Sky Mavis, the creator from the play-to-earn game Axie Infinity (AXS), announced that it’ll compensate victims from the Ronin bridge hack and reopen the bridge in a few days.
In March, online hackers stole greater than $620 million within the heist, which incorporated roughly 17,600 Ether (ETH) and 25.5 million USD Gold coin (USDC) tokens. According to some Bloomberg set of Friday, when the bridge reopens on Tuesday, users can withdraw one ETH for every one they possessed prior to the attack.
In April, Cointelegraph reported that Sky Mavis closed $150 million in fresh capital brought by Binance to refund hack victims. Animoca Brands,16z, Dialectic, Paradigm and Accel were one of the investors throughout the funding round.
Bridge being refilled around the 28th
Now it’s here we are at @Ronin_Network and @SkyMavisHQ to grow its games portfolio
If you’re a game maker who would like to build most abundant in experienced team within the web3 gaming space achieve to partnerships@skymavis.com$ron $axs https://t.co/DPkg8DUeUW
— Psycheout – Aleksander Axie Infinity (@Psycheout86) June 24, 2022
The hacker moved the stolen assets around right after the breach, using TornadoCash to hide their activities. This can be a major problem for that decentralized finance (DeFi) industry, that has endured greater than $1.22 billion in losses so far this season.
The Ronin hack was probably the most notable occasions in recent memory, causing tremors through the cryptocurrency industry. Regardless of this, the Ronin blockchain wasn’t discouraged in the pursuit to achieve significant milestones.
At the begining of June, the blockchain surpassed $4 billion in most-time nonfungible token (NFT) sales volumes, also it remains common as an electronic collectible network. When it comes to all-time NFT sales volumes, it’s second simply to Ethereum. It beats Solana (SOL), Flow (FLOW), Polygon (MATIC) and WAX (WAXP), among many more.
Related: Breaking: Harmony’s Horizon Bridge hacked for $100M
Hacks, rug-pulls and protocol flaws are common inside the cryptocurrency industry. It seems like not really a day passes without news of some other hacking. On Friday, Cointelegraph reported the Horizon Bridge towards the Harmony layer-1 blockchain have been exploited for $100 million in altcoins being swapped for Ether. Based on Immunefi, cybercrime losses arrived at $10.2 billion in 2021.
