Sky Mavis will reimburse users for losses


Developer Axie Infinity Sky Mavis Inc., which lost more than $625 million. after the March hack, it plans to compensate users for losses on June 28 and reopen the software bridge that was violated as a result of the attack.

A hacker stole 173,600 ETH and 25.5 million USDC stablecoins from the Ronin bridge, which allowed players to switch between coins of different blockchains. According to Sky Mavis, after the bridge opens, users will be able to withdraw one Ether for every coin lost in March.

Sky Mavis Inc. raised $150 million in a funding round led by the Binance crypto exchange in April. The firm said it plans to use the money and its own resources to reimburse users.

Start a discussion …