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Axie infinity developer5/5/2023 ![]() 3 Players of Axie Infinity collect and mint NFTs which represent axolotl -inspired digital pets known as Axies. He said now they have increased the security though a shortage of skilled blockchain engineers is also a problem since this industry is still nascent. Axie Infinity is a non-fungible token -based online video game developed by Vietnamese studio Sky Mavis, 1 known for its in-game economy 2 which uses Ethereum -based cryptocurrencies. The main reason for the hack was that they had been careless, he admitted. Sky Mavis, the developer behind popular play-to-earn game Axie Infinity, said it will start to reimburse the victims of the 625 million Ronin bridge hack on June 28. Trung said he and his team have learned and grown from the experience. The funding is considered a key step in the company’s path to win back users’ trust. To keep moving forward, we have to maintain our trustworthiness and to pay back our users”.Įight days after announcing the hack, Axie Infinity said it had secured $150 million to pay users. “None of our team members wanted to stop. He decided the company would continue to move forward and not give up. ![]() Trung said his top priority was the stability of his team. “I couldn’t control my emotions and burst into tears”.įor the next few days he and his colleagues stayed in the office to deal with the aftermath. The 30-year-old said he had felt helpless when he returned home and saw his family happy and unaware of what had happened. The Ronin network is used as a bridge between the Axie Infinity and blockchains, essentially to transfer cryptocurrency in and out of the game. This was the first time Trung appeared in public since the end of last month when hackers made off with some $625-million worth of Ethereum and USDC cryptocurrencies from Axie Infinity’s Ronin network. This is the money of many players and investors and could have a direct impact on their lives.” “I was upset and angry because of the thieves’ greed. I could not do much immediately as the flight was about to take off. Over 2.6 million users own Axie NFTs, which Sky Mavis said is four times more than the next largest NFT project.The CEO of Sky Mavis, which developed one of the world’s biggest blockchain-based play-to-earn game, said at a forum Thursday: “I was getting on a plane when my chief technology officer called about the hack. Meanwhile, Binance has fully restored deposits and withdrawals on Ronin after halting them last week then partially resuming them.Īxie Infinity is the most-played NFT game of all time. ![]() Ronin will also get an increase in its so-called validator nodes, which are proof-of-stake tools that confirm transactions, so they won't be as vulnerable to hackers in the future. After these steps are completed, the Ronin Network bridge - the blockchain protocol the hacker exploited - will reopen. "Sky Mavis is committed to reimbursing all of our users' lost funds and implementing rigorous internal security measures to prevent future attacks," CEO Trung Nguyen said in a Wednesday statement.Īdditionally, Sky Mavis is implementing new security measures and going through internal audits, which can take several weeks. Sky Mavis and Axie Infinity will also contribute balance sheet funds toward paying users who were impacted by the massive swindle, which is believed to be one of the biggest in the history of crypto.
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