Cryptocurrency exchange Binance announced that the functionality of the recently hacked decentralized system Ronin Network Axie Infinity has been partially restored.
Binance representatives on Saturday, April 2, announced that deposits and withdrawals for Axie Infinity (AXS) and Smooth Love Potion (SLP) on the Ronin (RON) network have resumed.
However, the withdrawal of wrapped ether (WETH) on the Ethereum network and the conversion from WETH to ETH remain closed until the exchange deems these functions stable. Representatives of the platform promise that they will inform about the resumption of the full package of services later.
On Wednesday, March 30, Binance announced that it had suspended the creation of deposits and withdrawals on the Ronin network, and also blocked the addresses of potential hackers. The platform’s dedicated monitoring team began to monitor for any unusual transactions. In addition, Binance has suspended the withdrawal of wrapped ether to Ethereum and the conversion function from WETH to ether.
On Tuesday, March 29, DeFi Ronin representatives reported that the attacker “used cracked private keys to unauthorizedly withdraw funds from the Ronin bridge” through two transactions, stealing 173,600 Ether and 25.5M USDC, totaling more than $625M. Binance supported the Ronin Axie team Infinity, which turned to law enforcement and blockchain security companies to determine the identities and wallets of criminals.
Recently, hackers used a vulnerability in the smart contract of the Ola Finance DeFi protocol, which allowed them to access assets by calling the function multiple times, and withdrew $3.6 million worth of crypto assets. In March, a hacker hacked the Li Finance DeFi protocol and stole crypto assets from 29 site users. The team returned the money to 25 clients, and offered the rest to become business angels of the project. Earlier, hackers hacked into the DeFiance Capital protocol and stole assets worth $1.7 million. Moreover, the losses could have been much larger – the developers managed to protect crypto assets worth $13.3 million from theft.
