Ronin bridge reopens with new mobile wallet

Three months after a hack that saw North Korean attackers drain $625 million, the Ronin bridge reopens and the company behind Axie Infinity prepares to reimburse affected users.

Source: Axie Infinity website

Axie Infinity announced it was getting ready to roll out a new version of the mobile Ronin wallet and reopen the Ronin bridge, the GameFi project confirmed on Twitter. The move comes roughly three months after the flagship Sky Mavis game fell victim to an attack perpetrated by North Korean hackers that saw approximately $625 million drained, including 17,600 ETH and 25.5 million USDC.

As the Ronin bridge reopens, users have been told they can expect stolen funds to be reimbursed. On Tuesday morning, Ronin developers tweeted that the hard fork requiring Ronin validators to update their software has been successful and that the team expects no delays at this time.

The funds for reimbursements came in large part from a round led by Binance, which also helped recover some of the assets the hackers transferred to Binance to withdraw. At the time, Binance CEO Changpeng Zhao praised the “tremendous work and growth of the Sky Mavis team” and later made a point of a smooth cooperation with Sky Mavis as he criticized the handling of the LUNA crisis by Terraform Labs.

While the majority of the crypto community is impatient to see the Ronin bridge restored and the stolen funds recovered, Axie Infinity also pointed out that the new version of the mobile Ronin wallet includes some improvements and security upgrades.

The wallet will now display notifications for SLP, AXS, RON, and USDC token balance updates, and show data tracking messages. It will also be easier to keep the software up to date, verify the seed phrase flow, and archive or unarchive accounts.