The Trust Project is a worldwide group of news organizations working to establish transparency standards.

Following the Ronin Network Hack on March 23rd, Axie Infinity has raised $150 millions to cover up the losses. The funds will be restored on the Ronin bridge, as stated on Axie Infinity Twitter.
The first USD funding round was led by crypto exchange Binance, supported by Animoca Brands, Paradigm, Dialectic and a16z. The next funding round will supposedly be used to reimburse the users affected by the hacker attack.
On March 23rd 173,600 Ethereum and 25.5M USDC were drained from the from The Ronin Bridge in two transactions, which was equivalent to approximately $600 million in the days the transactions were executed. The investigation is ongoing. The Ronin Network Bridge is currently closed and has undertaken audits and a security update. Sky Mavis is also under the process of accomplishment of new internal security measures.
Meanwhile, crypto community remains confused by the loss of 56,000 ETH from the Axie DAO, which were claimed to be undercollateralized during Sky Mavis’ work with law enforcements, aiming to recover the funds.
Read related posts:
- A16z releases first-ever ‘State of Crypto Report’
- Ronin Network Compromised
- SuperRare opens Soho pop-up with inaugural group show
Disclaimer
All of the information on our website is provided in good faith and solely for educational reasons. Any action taken by the reader in response to material on our website is entirely at his own risk.
[…] Sky Mavis Raised $150М to Cover The Ronin Bridge HackMPost Markets: Ether price reaches $1,481Ronin Network CompromisedAxie Infinity rebrands to Axie Origins, announces new game features […]
[…] Sky Mavis Raised $150М to Cover The Ronin Bridge Hack […]
[…] Play the Best Gaming Metaverse ProjectPlayers can now mint NFTs in Axie Infinity Phase 3 of Season 0Sky Mavis Raised $150М to Cover The Ronin Bridge HackSky Mavis Inks Four New Web3 Gaming Deals, Announces Upgrade to Ronin NetworkRonin Network […]