wp-plugin-hostgator domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114ol-scrapes domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/6\/28\/23186368\/axie-infinity-nft-game-transactions-625-million-theft<\/a> Ronin Bridge, the link that enables users to transfer funds to and from accounts in the \u201cplay to earn\u201d Axie Infinity<\/em> game, has reopened following a $625 million theft that took place in March<\/a>. Sky Mavis, the developer group behind Axie Infinity<\/em> and the Ronin blockchain that powers the game, announced that players can now use the bridge<\/a> to make deposits and withdrawals.<\/p>\n Since March, the Ronin Bridge has been closed off as Sky Mavis worked to bolster its security protocols and recover users\u2019 funds. The attack went unnoticed for six days until a user tried to withdraw funds and couldn\u2019t do it. In a postmortem<\/a>, Sky Mavis blamed a spear-phishing attack that compromised an employee\u2019s account, saying that person no longer works with the company, as well as its lack of a tracking system to monitor large outflows.<\/p>\n After conducting an investigation, the US Treasury Department attributed the hack to the North Korean hacking group Lazarus<\/a> and issued sanctions on the wallet address containing the stolen cryptocurrency. Sky Mavis initially planned to have the bridge up and running by the end of April but later delayed its reopening, citing that<\/a> \u201cthis is not a process we can afford to rush\u201d because the bridge \u201cwill secure billions of dollars in assets.\u201d<\/p>\n The Ronin Bridge is open!<\/p>\n \u2022 All user funds are fully backed 1:1 by the new bridge. : https:\/\/t.co\/QX9hY1xKYX<\/a><\/p>\n \u2014 Axie Infinity (@AxieInfinity) June 28, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n Sky Mavis appears to have followed through on its promise to compensate players affected by the theft. Although it notes that users\u2019 funds are \u201cfully backed 1:1 by the new bridge,\u201d Sky Mavis still hasn\u2019t made up for a large portion of the Ronin network\u2019s stolen funds. After pooling money from the founding members of the Sky Mavis team and receiving $150 million in funding<\/a> from a number of companies, including Binance, the firm says Ronin\u2019s currently down 71,600 ETH (~$85.8 million) and 25.5 million USDC ($25.5 million). Sky Mavis says it\u2019s reimbursing these liabilities in full.<\/p>\n But this still doesn\u2019t account for the 56,000 wETH (~$67.2 million) drained from the Axie DAO (decentralized autonomous organization) Treasury, the group of people who vote on decisions for the Axie community. Sky Mavis says it\u2019s working with law enforcement to retrieve these funds. If it doesn\u2019t recover them within two years, the DAO will cast a vote on the \u201cnext steps.\u201d<\/p>\n In a message on Discord, developers told players they\u2019re also on track to add Land Staking<\/a> this week, which is another scheme to help generate rewards for players who\u2019ve invested money in the game. The Verge<\/em> senior entertainment editor Andrew Webster tried playing the game<\/a> and said, \u201cThe creatures are all extremely similar, and experimentation is nonexistent unless you want to fork out a bunch of cryptocurrency.\u201d<\/p>\n It\u2019s unclear what these changes will do to improve the actual gaming experience, even if the back end is, now, more secure. Shortly after the attack, Sky Mavis launched Axie Infinity: Origin<\/em><\/a>, a newer version that includes free-to-play elements to try and attract new players who don\u2019t have blockchain wallets yet.<\/p>\n To help prevent future thefts, the Ronin Bridge has undergone one internal audit and two external audits by blockchain security firms Verichains and Certik. The bridge also has a new \u201ccircuit-breaker system\u201d designed to stop suspicious users from making unusually large withdrawals. You can read more about Ronin\u2019s update in its blog post<\/a>, as well as read up on its technical documentation<\/a>. <\/p>\n
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\u2022 The bridge has undergone an internal audit and two external audits.
\u2022 We are still on track to release Land Staking this week.<\/p>\n