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- Back in March, we witnessed the biggest play to earn gaming and NFT sector heists pulled off by the hackers, when they wiped $612 Million straight outta Axie Infinity’s Ronin Bridge.
- Axie Infinity creator, Sky Mavis, offered a compensation of $125 Million a few days after the attack happened.
- As of now, Axie Infinity’s native crypto asset, AXS, was trading at a market value of $16.03, down by 2.78% during the past 24 hours.
Revival Of Ronin Bridge
The Axie Infinity’s Ronin Bridge, which got snakebitten by the hackers, eventually leading to its collapse wiping $612 Million in a blink, is coming live again.
Ronin Bridge acts as a link among Ronin sidechain and Ethereum Blockchain to interchange crypto assets, and will be relaunched today. Due to the collapse, the organization put a halt on the bridge.
In an official Twitter post, the Ronin dev team stated that the Ronin sidechain will go through a hard fork and the victims of the Ronin bridge collapse will be reimbursed.
Ronin sidechain was especially developed for the Axie Infinity players, for the purpose of seamless and faster transactions, which was not possible on the mainnet of Ethereum, and speed matters everywhere.
Back in April, a statement was given by the Federal Bureau of Investigation that Lazarus Group might be involved in the Ronin Bridge collapse. Lazarus Group is based in South Korea and is associated with unethical acts similar to the Ronin Bridge attack.
Sky Mavis, the Axie Infinity creator, raised over $125 Million worth of funds to provide compensation to the players who got inflicted with the damage done in the Ronin Bridge attack.
A Glee For Axie Players
Axie Infinity players should be walking on the air at this moment, as the news brings joy as well as the money of the players who got attacked.
This revival is also the exhibition of the firm faith and how trustworthy the ecosystem is, and folks can rely upon it unafraid.
Ronin Bridge’s relaunch may also attract more users into the game, as now they know that they are backed by a community which can be trusted, and an ecosystem where their assets are secure.
The Ronin Bridge relaunch brings a ray of hope for several who thought that the attack might collapse the ecosystem of Axie Infinity too, but as we are witnessing, the team is proving them wrong.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
