Blockchain News
- Axie Infinity has finally reopened Ronin Bridge after closing it for many months.
- All users affected by the $625 million attack have been reimbursed by the team.
- Ronin Chain performed a hard fork where all the security improvements have been implemented.
Sky Mavis, the creator of Axie Infinity, has finally reopened Ronin Bridge after closing it for many months in the wake of one of the biggest crypto scams of the year.
In a tweet, Axie Infinity announced the news, as well as Ronin Bridge updates. Also, all users affected by the $625 million cyber attack have been reimbursed by the team.
Earlier today, the Ronin network also underwent a huge upgrade. Specifically, Ronin Chain performed a hard fork where all the security improvements have been implemented. All Ronin validators successfully updated their software as well.
Ronin upgrade complete 🛠️
• The Ronin hard-fork which required all validators to update their software has been successful.
• The Ronin Bridge is still on track to be opened today.This post has been updated: https://t.co/wvXAvKkMjR
— Ronin (@Ronin_Network) June 28, 2022
However, the amount of funds raised by the team is not yet 100% enough to recover all of the crypto that were siphoned on March 29. According to the announcement, up to 56,000 Wrapped ether (WETH) has still to be recovered from the hackers for up to 2 years.
Sky Mavis explained:
The 56,000 of missing ETH from the Axie DAO treasury will remain undercollateralized as Sky Mavis works with law enforcement to recover the funds. If the funds are not fully recovered within two years, the Axie DAO will vote on next steps for the treasury.
This leaves 117,600 WETH and 25.5 million USDC, all of which have been reimbursed to Ronin Bridge users.
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