Ronin Bridge goes live again with more security

After being offline for almost three months, Axie Infinity announced that Ronin Bridge is going live again with more security.

The Ronin Bridge exploit has lost over 600 million of users funds, and the gaming platform has lost over 600 million of users funds.

The Ronin Bridge underwent three audits. One audit was carried out internally and two external audits before its reopening. Certik and Verichain conducted the two external audits.

The new Bridge has a circuit breaker system for extra security. This design is a contingency plan that will halt large suspicious withdrawals through the Bridge.

Before anyone can withdraw $1 million, they will need 90% of the validator's signature. A withdrawal of $10 million and above will require 90% of the validator's signature and human review.

The smart contract software on the Bridge has been updated for validators to set a daily withdrawal limit. It was initially set at $50 million, but it will be possible for an administrator to reset it.

The post said that users should not send funds straight to the Ronin Bridge ContractRonin Bridge Contract address as that will permanently lose such funds. Users should only access the Bridge for deposits and withdrawals through the user interface.

Axie Infinity explained the developments since the exploit and how users have been reimbursed.

56,000 wETH belonged to Axie Infinity DAO, of the 173,600 ETH and 25.5 M USDC stolen from the Bridge. This will be undercollateralized as the developers work with the law enforcement to recover the funds.

The liabilities, which amount to 71,600 ETH and 25.5 M USDC, have been fully returned to the network, fully backed 1: 1 by ETH and USDC onEthereum. The Ronin Bridge connects the Ronin sidechain to ETH and is a key to the operations of the Axie Infinity ecosystem. With its reopening, Axie Infinity developers hope to turn around the decline in its daily users' trust and earn back users' trust.