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Deposits and withdrawals on Axie Infinity's Ronin Network, which had been banned since Tuesday following probably the greatest hack in decentralized history, have partially restarted, according to global trading giant Binance.
Binance announced on Wednesday that all deposits and withdrawals on the Ronin network had been paused, and that suspected hacker addresses had been banned, with a dedicated monitoring team keeping an eye on any strange transactions. Binance also halted withdrawals of wrapped ether (wETH) on the Ethereum network, as well as the convert wETH to ETH function.
Deposits and withdrawals for Axie Infinity (AXS) and Smooth Love Potion (SLP) on the Ronin (RON) network have been restored, according to the crypto exchange. However, withdrawals of Wrapped Ether (WETH) on the Ethereum network, as well as the convert function from WETH to ETH, are still disabled until the exchange deems the network reliable.
A dedicated staff at Binance is still looking for anomalous transactions, according to the company.
On Tuesday, Ronin announced that an attacker “used compromised private keys to generate fraudulent withdrawals” from the Ronin bridge across two transactions, totaling 173,600 ETH and 25.5 million USDC, or more than $625 million at current prices.
