Axie Infinity’s Ronin Bridge Encounters Problem, Are Funds Safe?

Axie Infinity on Saturday said the Ronin bridge has encountered an unknown problem that caused some funds to stuck during transfers from the Ethereum blockchain. The Axie Infinity team claims the funds are not lost but stuck due to a recurrent issue currently occurring after reopening the bridge.

However, Ronin Network in a recent blog post warned that funds sent directly to the Ronin Bridge’s contract addresses will be permanently lost.

Ronin Bridge Faces Issues After Going Live

Axie Infinity announced in a tweet on July 2 regarding the recurrent issues occurring on the Ronin Bridge causing some funds to get stuck during transfers from the Ethereum blockchain.

The issue has been identified and the team is currently working with validators to resolve the issue. An update to the bridge has been proposed, which will likely be completed by July 10. It is expected that funds will remain stuck until the update goes live.

“We have identified the issue and are working on the solution. The solution requires us to make an update to the bridge. We have begun the process with the support of the Validators and expect the update to go live near the end of next week.”

Axie Infinity claims the issue has only happened two times since the reopening of the Ronin Bridge. However, it is difficult to predict if any such issues will occur in the future. Moreover, the platform believes that the stuck deposits will be sent to the designated Ronin wallet after the update.

It happened after Axie Infinity launched Land staking on July 1, which allows players to earn AXS tokens through staking. In fact, 13,005 of 16,794 Land plots have already been staked.

Ronin Warnings on Permanent Fund Loss

Ronin Network has earlier warned that the new Ronin Bridge should only be accessed and used for deposits and withdrawals through the Ronin Bridge UI. Users trying to send funds directly to the Ronin Bridge’s contract addresses will be permanently lost.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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