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Axie Infinity’s Sky Mavis Raises $150 Million (Approx. ¥18.5 Billion) to Fund Restoration

Jun 10, 2022

Sky Mavis, the developer of Axie Infinity, has raised $150 million (about $18.5 billion) in funding. The funds will provide full refunds to users following the recent hacking incident.

The funding led Binance, the world’s largest crypto exchange.
Animoca Brands, a16z, Dialectic, Paradigm, and Accel participated.

AxieInfinity’s RoninBridge was hacked on March 30 for over $70 billion (173,600 ETH and 25.5 million USDC).

The hack took place on March 23, but the hack discovered on March 30 after user feedback.

RoninBridge and KatanaDEX were temporarily suspended.

In response to the hack, Sky Mavis is increasing the number of validator groups to 21 within the next three months and implementing strict internal security measures to prevent attacks.

RoninBridge, which is currently suspended, will be opened after undergoing security upgrades and several audits.

Axie Infinity Overview

Axie Infinity is a blockchain-based GameFi. The game inspires by Pokémon and allows players to earn SLP in crypto assets by fighting NFT monsters called “Axie.”

It was released in 2018 by Vietnamese developer SkyMavis. At the end of last year, daily active users exceeded 2.4 million. It is known to have many people in Southeast Asia, including the Philippines and Vietnam, who earn money as their main job. It is one of the most popular GameFi in the world.


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