in the past weeks on Ronin Network In a massive $615 million hack incident, the attackers were able to break through the Ronin bridge. 173,600 Ethereum (ETH) and 25.5 million USDC It was revealed that they were stolen.
Since the Ronin network is the Ethereum sidechain of the popular cryptocurrency Axie Infinity, after the hack, Sky Mavis, the firm behind Axie Infinity, announced that it has raised a $150 million investment fund to cover victims’ losses.
Firms such as venture capital firm a16z, Dialectic, Paradigm and Animoca Brands also participated in the funding round led by Binance.
Sky Mavis said that its own balance sheet funds and funds from the investment round for the victims will be given to the users affected by the attack.
Sky Mavis CEO Trung Nguyen said in a statement:
“Sky Mavis is committed to reimbursing the lost funds of all our users and implementing strict internal security measures to prevent future attacks.”
While Binance or Sky Mavis did not reveal how much of the 150 million dollar aid fund collected will be covered by Binance, Binance CEO Changpeng Zhao used the following statements on the subject:
“We believe Sky Mavis will bring a lot of value and growth for the cryptocurrency industry.
In this context, we believe it is necessary to support them as they work hard to resolve the recent hack.”
The world’s largest cryptocurrency exchange, Binance, also announced on Wednesday that deposits and withdrawals on the Ronin network are now fully unlocked.