According to Bloomberg’s report, Axie Infinity (AXS) Trung Nguyen, co-founder and CEO of Sky Mavis, the company behind the blockchain game, said it was worth about $3 million before the company revealed details about the $540 million hack. cryptocurrency transferred.
According to Bloomberg, Nguyen moved the funds as part of the company’s efforts to recover its funds following the attack. These fund transfers were made before Axie made the information about the attack public.
Axie Infinity Spokesperson Says These Funds Are Moved To Hedge Short Investors
Sky Mavis spokesperson Kalie Moore said the move was necessary to prevent short investors from highlighting the token sale after the attack became public.
Nguyen’s funds movements form part of a series of crypto transfers from Axie-linked wallets tracked by the Axie user alias Asobs. All of these wallets moved funds from the Ronin sidechain to centralized exchanges like Binance after the hack. But only the wallet identified by Sky Mavis CEO has been confirmed by the company, according to the Bloomberg report.
The attack took place in March, and attackers seized five of the nine validator keys on the project’s Ronin sidechain. The hacker then stole about $540 million worth of cryptocurrencies from the project using these keys.
Sky Mavis later raised funds to make up for the losses. The company had also previously announced that refunds to affected users began on June 28.
*Not investment advice.