Reading time: ~2 m
On June 28, developers plan to restart the bridge between the Ronin Network sidechain and the Ethereum (ETH) cryptocurrency blockchain.
The Ronin Network publication indicates that a hard fork will take place before the bridge is restarted, so validators will have to update their software. Network nodes operators have already been notified of the upcoming upgrade, so they will have time to prepare for this event.
The bridge was disconnected at the end of March 2022 after a hacker attack that resulted in the theft of cryptocurrency for a huge amount of $ 612 million. attackers managed to gain access to the private keys of validators and confirm the withdrawal of 173,600 Ethereum (ETH) and 25.5 million stablecoins USD Coin (USDC).
Representatives of Ronin Network reported that “all users will be returned assets.” The press service of the developer of the game Axie Infinity Sky Mavis confirmed that after the restart of the bridge, the victims of the criminals will be transferred ETH coins, but nothing is yet known about the stolen USDCs.
Unfortunately, even in the case of full compensation, the victims will suffer large losses due to the fall of the Ethereum rate. At the time of the attack, the stolen ETH was worth $ 586.5 million, and now it is only $ 197.2 million.
#Enabling #bridge #Ronin #Ethereum #network #scheduled #June