Ronin Network on Friday said it is restarting the Ronin bridge on June 28 and plans to reimburse users for the lost funds during the $620 million Ronin hack. Ronin has successfully passed the external audit led by blockchain security firm Certik, with minor changes suggested by the firm.
As a result of the Ronin restart and reimbursement announcement, Axie Infinity’s AXS token soared more than 20% in the last 24 hours, with the most rally coming in just 3 hours. At the time of writing, the AXS price is trading at $17.31.
Ronin Network Announces Ronin Bridge Restart and Refund
Sky Mavis, the owner of Axie Infinity and Ronin Network, pledged to reimburse users for lost funds during the $620 million Ronin bridge hack in March. The company will start the refund process soon after the restart of Ronin bridge.
Interestingly, Ronin Network in a tweet on June 24 announced to reopen the Ronin bridge on June 28. Moreover, it also revealed returning users the funds they lost in the hack.
Furthermore, Ronin Network urges all validators to update their software for a Ronin hard-fork. Validators have also been informed regarding the next steps to upgrade their validating node. It has also released guidelines for upgrading non-validating nodes.
