The play-to-earn game Axie Infinity's developer, Sky Mavis, has said that it will reimburse Ronin network breach victims and restore the bridge the next week.
Hackers stole more than $620 million in March, including 25.5 million USD Coin (USDC) tokens and 17,600 Ether (ETH) tokens. In accordance with a Friday article from Bloomberg, customers will be allowed to withdraw one ETH for each one they held before to the assault when the bridge reopens on Tuesday.
Sky Mavis secured $150 million in fresh investment, led by Binance, according to a report by NFT Drop Calendar in April, to reimburse hacking victims. The fundraising round included Animoca Brands,16z, Dialectic, Paradigm, and Accel as investors.
The hacker moved the stolen assets around shortly after the intrusion while using TornadoCash to conceal their actions. The decentralised finance (DeFi) industry, which has already lost more than $1.22 billion this year, is facing a serious issue as a result.
One of the most notable incidents in recent memory, the Ronin hack completely upended the bitcoin sector. The Ronin blockchain stayed dedicated to accomplishing important goals in spite of this.
Early in June, sales of non-fungible tokens (NFTs) on the Ronin blockchain totaled around $4 billion, and the network is still widely used for digital collectibles. In terms of total NFT sales volumes, it is only surpassed by Ethereum. It performs better than, to mention a few, Solana ($SOL), Flow ($FLOW), Polygon ($MATIC), and WAX ($WAXP).
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