The Company Behind Hit Game Axi Infinity Is Working on a Reimbursement Solution After Suffering from a Serious Hacking Incident
Sky Mavis, the company behind the blockchain-based game Axi Infinity, is willing to reimburse its players as soon as possible, according to the company’s chief operating officer, Alexander Leonard Larsson.
The embattled company is currently trying to come up with a viable solution.
As reported by U.Today, Ronin, an Ethereum-linked sidechain developed by Sky Mavis, pulled out of an eye-popping $540 million in Ethereum and USDC stablecoin earlier this month, blockchain analytics company According to data provided by Elliptic. The hacking incident came to light on Tuesday, causing a wave of shock in the cryptocurrency community.
The attackers managed to compromise the bridge’s “verifier” nodes, allowing them to steal cryptographic keys and extract all funds.
It is the second largest cryptocurrency-related hack (behind only Poly Network). According to a U.Today report, PolyNetwork lost $611 million in August, but managed to get its funds back after weeks of talks with hackers.
According to Elliptic, the hackers began exchanging USDC tokens for Ethereum shortly after the hacking incident to ensure that they would not be confiscated by the centralized stablecoin’s issuer Circle.They used decentralized exchanges that allow their users to launder funds easily without any identity checks. However, the attacker also began laundering a portion of the stolen Ether through centralized exchanges, raising some eyebrows in the crypto community. The majority of the stolen money remains in the hacker’s various accounts.
The world’s largest crypto trading platform, Binance, suspended transactions on the Ronin network earlier today following a hack.
Rishabh Rai of Merkle Science told Bloomberg that the chances of recovering the money are “very slim.”