Sky Mavis has pledged to reimburse Axie Infinity players affected by the $625 million hack no later than next week. However, the announcement came in the wake of the latest crypto market crash, which sent the Ethereum price to the downfall.

  • The company expects on June 28 to reopen its Ronin Network breached in the attack, according to Bloomberg.
  • Once the bridge reopens, users will be able to withdraw one Ether for each one they held in March before the hack.
  • Hackers stole 25.5 million USDC and 173,600 Ethereum worth around $600 million. The thing is that the tokens are now valued at around $216.5 million, which is down 64% compared to the pre-hack price.
  • The attack led to Sky Mavis temporarily closing the Ronin Network, promising to increase the number of nodes needed to recognize the withdrawal.
  • In April, the company raised $150 million to restore user funds stolen in the biggest hack in cryptocurrency history. Sky Mavis also noted that the reimbursement might take up to two years.

Axie Infinity has been struggling to retain players ever since the attack, with players saying that their daily earnings have dropped by 40 times compared to previous highs.

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