Binance leads a $150 million funding round for Sky Mavis to be used entirely for recovering funds stolen in the Ronin bridge exploit.
In a bid to restore funds stolen during the recent Ronin bridge attack, Binance revealed that it has led a $150 million funding round of Sky Mavis – the creator of Axie Infinity.recently, the Ronin bridge – a critical piece of infrastructure for the Axie Infinity ecosystem, was exploited.
The attack resulted in a whopping $600 million loss in what seems to be the largest crypto-related hacks.that it led a funding round worth $150 million to recover funds lost in the attack. Other participants in the round include Animoca Brands, a16z, Dialectic, Paradigm, and Accel, and it shows the growing confidence in the project despite the critical exploit.I order for the global ecosystem to continue thriving and maturing, it is immperative that we work together, especially when it comes to security, which is our strong suit. We have seen the tremendous work and growth of the Sky Mavis team since working together on the Axie Infinity project on Binance Launchpad.
Meanwhile, Trung Nguyen, CEO at Sky Mavis, said that they are committed to reimbursing all of the funds while also implementing “rigorous internal security measures to prevent future attacks.”
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