Article from: NFT Now
So what happened to Axie Infinity’s player base? In the three months since the attack, users could retrieve whatever funds they had stored on the Ronin Network via a bridge provided by Binance. This bridge allowed them to withdraw their funds as wrapped ETH, which could then be easily traded for standard ETH. This saw roughly 46,000 wETH withdrawn from Ronin Network’s stores since the announcement of the initiative on April 2. Aside from that, nothing.
Thankfully, as of earlier today, Ronin Network has now been fully rebuilt.
It’s a different story for the funds stolen from the Axie DAO’s treasury, though. The 56,000 ETH taken from them during the attack remains unaccounted for. Should these funds remain unrecovered for two more years, a vote will be called amongst Axie DAO on the treasury’s next steps.
To ensure an attack of this scale won’t happen again, Sky Mavis has ramped up security on the rebuilt Ronin Network considerably. For starters, a “circuit-breaker system” will automatically sniff out suspicious withdrawals from the network. Withdrawals north of $1 million in value will require 90 percent of validator signatures, while withdrawals larger than $10 million in value will require that, along with a seven-day review process done by an actual human. Daily withdrawal limits per user have also been capped at $50 million. Additionally, Sky Mavis has completed an extensive internal audit conducted by a third party to look for more ways to improve the security of their system.
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Article from: NFT Now
