• Written by: John Kaczur
• Wed, 30 Mar 2022
•   Russian Federation

The Axie Infinity hack is yet another stain on crypto, but it looks like it won’t affect the little guy as much as originally thought.  Sky Mavis COO Aleksander Larsen says the company is "committed to reimbursing" Axie Infinity players and is "working on a solution" (Bloomberg)https://t.co/pBty3juixkhttps://t.co/LqRhjWl26z — Techmeme (@Techmeme) March 30, 2022 Sky Mavis […] The post Axie Infinity Users Will Be ‘Reimbursed’ Says Sky Mavis appeared first on CryptosRus.

Axie Infinity Users Will Be ‘Reimbursed’ Says Sky Mavis

The Axie Infinity hack is yet another stain on crypto, but it looks like it won’t affect the little guy as much as originally thought. 

Sky Mavis COO Aleksander Larsen says the company is "committed to reimbursing" Axie Infinity players and is "working on a solution" (Bloomberg)https://t.co/pBty3juixkhttps://t.co/LqRhjWl26z

— Techmeme (@Techmeme) March 30, 2022

Sky Mavis COO (Chief Operating Officer) Alexsander Larsen told Bloomberg that his company is “committed to reimbursing” Axie Infinity users who were affected by the 600 million dollar hack. No details yet on how exactly they will recompense Axie Infinity users.

Recommended: Someone Just Paid Millions To Buy A Plot Of Land In Axie Infinity

• Axie Infinity is the biggest play-to-earn game going. It’s built on Ethereum but operates on the Ronin sidechain. It’s perhaps most famous for being a source of income for people in countries like the Philippines. 
• Past “bridge” hacks have recovered stolen funds, and crypto exchanges have used their SAFU funds to make users whole. No timeline has been provided.
• The hack was another bridge-related incident that is now all too common in the crypto world. Bridges are used to migrate assets like Ethereum. In Axie’s case, Ethereum is bridged using Ronin, a sidechain of Ethereum.
• The bridge exists because of the need for second-layer solutions because of Ethereum’s gas fees.
• Axie Infinity’s token AXS continues to fall on the news. As of press time, it’s down 6% in the last 24 hours, trading in the $64 USD range. However, the embattled token is still up over 20% in the last 7 days.
• “Mainstream” outlets like Kotaku took the chance to soft serve emoji all over crypto based on the news — failing to mention how Axie Infinity has provided jobs for people around the world.

The post Axie Infinity Users Will Be ‘Reimbursed’ Says Sky Mavis appeared first on CryptosRus.