Axie Infinity’s Ronin Bridge to Re-Open After Hack, Locked Funds to Be Returned
Ronin (RON), Ethereum (ETH) sidechain built specifically for the play-to-earn game Axie Infinity (AXS), will soon re-open a bridge used to transfer assets to the chain after it was halted following a major hacking incident in March this year.
According to a tweet from Ronin on Thursday, the upgraded and re-designed bridge will open on June 28. Furthermore, all user funds that have been locked will be returned, the tweet said.
It added that a hard fork will be required to re-open the bridge, and that this means that all node operators need to update their software.
Nodes that act as validators on the network have already been informed about the steps they need to take, Ronin said, while adding that non-validator nodes need to follow specific instructions on how to proceed.
The latest update from Ronin came after the team on Tuesday this week said the re-designed bridge had passed an audit from the crypto security firm Certik.
“We are happy to report that the Certik audit came back with minor suggestions,” the team wrote, adding that they began implementing Certik’s improvement recommendations.
The re-opening of the bridge has been delayed several times. Originally, the bridge was said to open in April, before it was delayed to late May.
The hacking incident earlier this year, which led the Ronin team to take the bridge down, is one of the largest to have hit any crypto project to date. Based on market prices at the time, the attackers got away with well over USD 500m worth of ETH and USDC tokens.
____
Learn more:
– Axie Infinity’s Ronin Hack Exposes Risks of Proof-of-Stake and Centralization – Analysts
– North Korea’s Lazarus Group Behind Axie Infinity’s Ronin Hack, Say US Treasury, FBI
– ONE Drops as Harmony’s Bridge Hacked for Almost USD 100M
– Not Enough Liquidity for Celsius to Sell Staked Ethereum in Open Market – Analyst
– Ethereum Steps on Another Delay Bomb
– Vitalik Buterin Confirms Post-Merge Ethereum Centralization Concerns, Urges Not to ‘Overly Catastrophize’ It
