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Axie Infinity’s Ronin Completes Audit and Plans to Restart Operations in June

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Axie Infinity’s Ronin completed its audit process two months after the attack that stole $625 million. According to the company, security company Verichain Labs was responsible for the audit, the first performed after the attack.

Ronin Completes Audit

In the coming days, Ronin should count on a second audit, this time made by Certik. If the results are satisfactory, Ronin plans to restart its operations in mid-June.

However, Verichain did not disclose the results obtained, as it is an internal audit. When Ronin carries out its audit with Certik, it will be external in nature.

Ronin was a platform that served as a bridge between the game Axie Infinity and the Ethereum network. This fact prompted a group of hackers to break into the platform, stealing over 175,000 Ether (ETH) and 25,000 USDC.

Not only was the attack the biggest in cryptocurrency history, it was also identified just a week later. As a result, Ronin decided to modify its entire structure and in practice it will be relaunched with a new format.

No details were revealed about the new Ronin, but this Friday (27) the audit has been completed successfully. Now, Ronin will start the external audit process, which according to Certik should take up to 15 days.

“To become the gold standard when it comes to security, we are in the process of a second external audit led by Certik. We expect this audit to take 15 days. If Ronin is clean, we will be able to reopen the bridge in mid-June,” the team said.

The new Ronin will prevent large cryptocurrency withdrawals from being made without human interaction. In fact, the lack of a proper tracking system caused hackers to steal 173,600 ETH and 25.5m USDC in two transactions.

Security and delay

When it came under attack in late March, Ronin initially set the re-release date to the end of April. But the project ended up being delayed by more than a month. According to the team, the delay is important as the new bridge will secure billions of dollars in assets.

When Ronin is at 100% contracts, the launch will take place. Currently, 80% of contracts have already been modified. In addition, programming work and designing a panel of validators is ongoing.

Sky Mavis, the company behind Axie Infinity and Ronin Sidechain, has taken steps to increase security. The number of validators on the network, which was previously only nine, will be increased to 100. The reduced number of validators is one of the points of failure of the original Ronin. Hackers gained control of five of them and managed to steal the funds.

Finally, the network intends to make audits permanent by creating an organization, certifications and reward programs for those who find flaws in the protocol.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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