The Ronin Network, an EVM blockchain powering the popular play-to-earn game Axi Infinity, has announced the date for the reopening of its bridge, three months after it was exploited by the notorious North Korean cybercrime gang “The Lazarus Group”. Is.
Ronin Bridge to reopen on 28 June
Announcing the restart date on Twitter, the project said that its engineering team is working round the clock, and the bridge will officially reopen next week, June 28.
The project also states that users who had their funds locked up during the incident will receive a refund when the bridge reopens.
Ronin further said that the process would involve a significant hard fork that would require network validators to update their software. Non-verifiers are also expected to upgrade their nodes using specific information provided by the project.
• We plan to reopen the Ronin Bridge on June 28, with all user funds refunded.
• Reopening will require a Ronin hard-fork which requires all validators to update their software.
• The validators have been informed about the next steps to upgrade their verification nodes.
— Ronin (@Ronin_Network) 23 June 2022
After being hacked in March, the project vowed to enhance the security of the network by partnering with reputable security firms including CrowdStrike and Polaris Infosec.
In addition, Sky Mavis, the Vietnamese company behind the Ronin blockchain, announced plans to increase the network’s verification nodes to 21 by the end of this month, with a long-term goal of exceeding 100.
At the time of writing, Ronin had 11 active validators, including Animoca Brands and StableNodes, with Delphi and Dialectic to join soon.
Earlier this week, the project said the redesigned bridge had gone through two external audits by leading blockchain security firms, VeriChain and Certic.
Lazarus sent the stolen money to the whirlwind
After successfully pulling out more than $600 million worth of assets from Ronin Bridge in March, The Lazarus Group has been trying to monetize the proceeds using a variety of techniques.
At first, the hackers tried to launder funds using Binance, but it did not go well. In April, the crypto exchange announced that it had recovered approximately $6 million out of $625 million after the group tried to deposit assets to Binance using 86 different accounts. According to the report, the exchange blocked the accounts and recovered the funds.
After a failed attempt, the gang turned to privacy tools and crypto mixers like Tornado Cash to obscure their transactions. Last month, on-chain data from blockchain analytics platform Nansen showed that nearly 15% of Tornado deposits are from Lazarus’ wallet addresses.
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