#ronin hack

Sky Mavis, the company behind the ever so popular play-to-earn crypto game Axie Infinity has pledged to recover the lost funds and reimburse players after hackers stole 173,600 ether and 25.5 million USDC or about $625 million from the Ronin Blockchain Network. https://twitter.com/Psycheout86/status/1509134630687023106 Furthermore, the Ronin network had recently announced on Twitter that it is working with key stakeholders, law enforcement agencies, and major exchanges. In a bold move to support and strengthen the network’s security, Ronin has stated that they have replaced all former Sky Mavis validators and are pushing to add new validators to Ronin. https://twitter.com/Ronin_Network/status/1509623818263965696 The Ronin Bridge has now reopened following a USD 625 million exploit back in March. Sky Mavis announced that after three audits, the Ronin Bridge is open and ready for use, allowing users to make deposits and withdrawals to and from the Ronin (RON) network. The Ronin Bridge is an Ethereum sidechain specifically designed for Axie Infinity, it allows users to transfer funds between the Ronin blockchain and the Ethereum blockchain. Sky Mavis announced back in March after the hack had occurred, that the Ronin Bridge had been paused in order for them to recover user funds and increase security. Read more in our articles including "Sky Mavis to Reimburse Players following Axie Infinity Hack" and "Axie Infinity's Ronin Bridge is back up after USD 625 million hack".