The Ronin Bridge might reopen in June following the successful completion of its internal audit and the expected result of its external audit.
On Friday, Ronin Network announced that the Network and the Ronin Bridge had passed an internal and external audit conducted by Verichains Lab. Interestingly, if the Ronin Bridge passes a second external audit by leading security audit firm CertiK, it could reopen in mid-June.
The Ronin Bridge is being redesigned following a major hack in late March, with the new bridge not opening until June. The network announces the successful completion of two audits in a tweet on May 27 and is currently conducting the largest audit by Certik. The external audit will take 15 days to complete.
The new Ronin Bridge will prevent large outflows of funds without requiring human intervention. Hackers stole 173,600 Ethereum and 25.5 million USDC in two transactions due to a lack of a proper tracking system for large outflows.
Sky Mavis, the company behind Axie Infinity and Ronin sidechain, has taken security precautions. The company is collaborating with top security experts. Furthermore, Sky Mavis, which had only 9 validator nodes during the breach, intends to expand to 100. Some significant updates include regular audits, the establishment of a zero-trust organization, certifications, and bug bounty programs.
Ronin had hoped to open the redesigned bridge by the end of April. However, the team claims that the delay is significant because the bridge will protect billions of dollars in assets. The bridge will open once all contracts have been upgraded to 100 percent; it is currently at 80 percent. Furthermore, work on the bridge’s backend and the design of a validator dashboard are ongoing. Following the deployment of the Ronin bridge, the migration of pending withdrawals will begin.