How Axie Infinity Recovers From $600M Hack, New Ronin Bridge Re-Launched
The company behind the popular non-fungible token (NFT) game Axie Infinity, Sky Mavis, celebrated the re-launch of its Ronin Bridge. This cross-chain platform powers the game and allows users to deposit, stake, withdraw, and access other features. The bridge was drained out of $600 million in March 2022. Related Reading | Harmony Hacker Is Using Tornado […]
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The Ronin bridge tied to Axie Infinity is back up with a new design after Sky Mavis introduced a circuit breaker system and daily withdrawal limits. Sky Mavis, developers of the popular play-to-earn (P2E) NFT game Axie Infinity have announced that the Ronin bridge is back online three months after it was hacked for more than $600 million. The Ronin bridge is an Ethereum sidechain built for Axie Infinity, and it enables users to transfer assets between the sidechain and the Ethereum mainnet. On March 29, 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) was drained from the bridge after....
"We are in touch with security teams at major exchanges and will be reaching out to all in the coming days," said the team at Ronin. According to Axie Infinity's official Discord and Ronin Network's official Twitter thread, along with its Substack page, the Ronin bridge and Katana Dex have been halted after suffering an exploit for 173,600 Ethereum (ETH) and 25.5 million USD Coin (USDC), worth a combined $612 million at Tuesday's prices. In a statement, its developers said they are "currently working with law enforcement officials, forensic cryptographers and our investors to make sure....
The Ronin Network and Sky Marvis are significantly upgrading their security measures after they vowed to ensure a hack “never happens again.” The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cointelegraph previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) worth more than $612 million at the time. Earlier this month the Federal Bureau of....
The popular blockchain game Axie Infinity has been left shaking after the $650 million Ronin bridge hack. The studio behind the game, Sky Mavis, has been taking multiple measures to try to secure the network and win back the confidence of users. The latest move announced is a $1 million bug bounty program that invites white hat hackers to stress test the blockchain. Co-Founder and COO of Sky Mavis and Axie announced: “Calling all whitehats in the blockchain space. The Sky Mavis Bug Bounty program is here. Help us keep the Ronin Network secure while earning a bounty up to $1,000,000....
Since the hack of Axie Infinity’s Ronin bridge, developers behind the game have raised $150 million to reimburse the affected users. In late March, Ronin, an Ethereum sidechain built for the popular play-to-earn nonfungible token game Axie Infinity, was hacked for over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) for a combined value of over $600 million. The breach on the Ronin bridge was confirmed by Sky Mavis, the developers behind the popular play-to-earn (P2E) game:There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP— Ronin (@Ronin_Network) March....