Axie Infinity Developers Will Start Reimbursing Ronin Network Hack Damages This Month

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Sky Mavis, the company behind one of the most popular cryptocurrency games Axie Infinity, has announced that it will soon restart the bridge to the Ronin Network and compensate users for losses.

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At the end of March, the Ronin Network sidechain was hacked – hackers were able to steal assets worth $620 million. They withdrew 17,600 ETH and 25.5 million USDC. It seems that the developers managed to close the vulnerabilities and already on Tuesday, June 28, the bridge will be launched again. In addition, users who have lost funds as a result of a hack will begin to receive a refund.

As the representative of Sky Mavis emphasized, compensation for losses to users will be carried out in full. That is, they will be able to withdraw as much ETH as they had stored on the Ronin Network sidechain at the time of the hack. At the same time, 56,000 ETH, which belonged to DAO Axie Infinity, will be “recorded as losses” to Sky Mavis.

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Recall that in mid-April, Sky Mavis launched a reward program for discovering vulnerabilities in the Axie Infinity game and the Ronin Network sidechain.

Source: Bits

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