Ronin Bridge Resumes Service After $625 Million Exploit
CryptoNewsTerminal Staff04 Sep, 2024
Ronin Bridge Resumes Service After $625 Million Exploit
Ronin (RON), the exclusive Ethereum sidechain for the popular play-to-earn (P2E) game Axie Infinity, has announced the resumption of its cross-chain bridge, Ronin Bridge, through a new intermediary, X. The Ronin Bridge was exploited last month, resulting in the theft of approximately $625 million worth of cryptocurrency. Following the incident, Ronin suspended the bridge's operations to implement security enhancements. In a statement, Ronin stated that there are currently no plans to update the bridge's contract code. Additionally, the team behind Ronin plans to transition the operations and maintenance of the Ronin Bridge to an established, specialized bridging solution in the future. The resumption of the Ronin Bridge is expected to be a positive development for Axie Infinity players, as it will allow them to move their assets between the Ethereum mainnet and the Ronin sidechain. However, it's important to note that the bridge exploit is still under investigation, and users should exercise caution when using it.
