Axie Infinity (axs) Ronin Network Launches Bug Bounty Program In Response To $600,000,000 Hack

The Axie Infinity (AXS) Ronin Community is launching a “bug bounty” program that can supply as much as a million to hackers for locating weaknesses within the undertaking’s blockchain.

In late March, the Ronin bridge was hacked for 173,600 ETH and 25.5 million stablecoin USD Coin (USDC), price a couple of mixed $600 million.

The Ronin Community is an Ethereum-linked sidechain made particularly for the favored gaming metaverse platform Axie Infinity.

The bounty program pays out rewards in Axie Infinity’s native token, AXS. The million-dollar reward is reserved for “terribly extreme points or these with excessive affect.” Discovering smaller bugs can earn hackers a variety of funds between $1,000 and $100,000, depending on their severity.

The Ronin Community additionally hopes to reopen its bridge by mid to late Might, in keeping with a brand new announcement.

“The Ronin Community bridge is at present being redesigned and can open as soon as we’re assured that it could possibly stand the take a look at of time. We initially anticipated to have the ability to deploy the improve by the tip of April, however this isn’t a course of that we are able to afford to hurry. The bridge will safe billions of {dollars} in belongings, and it must be completed proper.”

Earlier this month, the U.S. Division of the Treasury introduced that North Korean hackers have been behind the assault.

The Workplace of International Belongings Management added an Ethereum deal with belonging to a North Korean cybercriminal group often called Lazarus Group to its specifically designated nationals and blocked individuals listing (SDN).

Market intelligence agency Chainalysis made the hyperlink between one of many ETH addresses listed within the SDN and the Lazarus Group.

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Featured Picture: Shutterstock/Ralf Juergen Kraft

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