CEO of Axie Infinity withdrew $3 million in crypto before $600 million hack was announced

CEO of Axie Infinity withdrew  million in crypto before 0 million hack was announced
CEO of Axie Infinity withdrew  million in crypto before 0 million hack was announced

While the gaming mainstream remains deeply distrustful of anything related to crypto, one of the apparent successes was Axie Infinity: a Pokémon game built around pets called Axies that can be traded, battled and, of course, claimed to have some sort of “real” value . Axie Infinity’s ecosystem was valued in the hundreds of millions. Then, on March 23rd, the company’s ‘sidechain’ Ronin network was hacked, with the perpetrators stealing Ethereum and USDC stablecoins which at the time were valued at around $600 million.

The game’s developer Sky Mavis was forced to acknowledge the hack and disable token withdrawals. But not until Trung Nguyen, CEO and co-founder, transferred $3 million worth of AXS, Axie’s main currency, from the game’s blockchain to Binance, a crypto exchange.

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