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Hacker commits second biggest cryptocurrency hack, steals $540m from Ether holders

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The second biggest hack in the history of cryptocurrency occurred last week on blockchain platform, Ronin Network, but was only discovered on Tuesday by the cryptoasset company.

An unidentified hacker moved about $540 million worth of cryptocurrencies, which included 173,600 ether tokens, as well as 25.5 million USD coins, that were worth nearly $620.

The hacker had forge two fake withdrawals last week after hacking private keys. The hack wasn’t detected until a user of the ethereum-based platform couldn’t withdraw 5,000 ether tokens, said to be worth $17 million yesterday, Forbes reported.

Read also: Cryptocurrency investors lose $400m to hackers, Lazarus Group

The fund which is still in the wallet of the hacket is the second biggest heist, behind the $600 million blockchain-based platform, Poly Network, lost to hackers in August – although, it was retrieved.

Another hack in this large scale was the $460 million hackers stole from cryptocurrency exchange, Mt. Gox. The hack resulted to the company’s bankruptcy.

Ronin is now working with cryptocurrency exchanges, as well as Chainalysis, a blockchain analytics firm, to prevent further attacks and recover the funds.

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