Sky Mavis Will Reportedly Reimburse Axie Infinity Hack Victims But Only For About 1/3 Of The Amount Stolen

The reimbursement will cost about $216.5 million.

Anthony Jones
By Anthony Jones, News Editor Posted:

Axie Infinity

Axie Infinity, a collectible NFT-based online game by Sky Mavis, was hacked earlier this year by - what the FBI claims - were North Korean state-backed hacker groups. They stole a whopping $617 million Ethereum ($25.5 million in USDC) from tons of contributors to the game, and it wasn't until recently that Sky Mavis found a way to reimburse victims.

Unfortunately, only $216.5 million will be returned to users because of the steep decline of Ethereum, which is around one-third of what was stolen. Sky Mavis told Bloomberg that Axie Infinity players can receive one ether token for those stolen in the hack. But as mentioned before, there won't be an equal reimbursement due to the pricing of Ethereum currently. Although Sky Mavis raised $150 million in April to help victims gain their Ethereum, it wasn't close enough to meet the massive loss earlier this year. Affected users will be reimbursed on June 28 when Sky Mavis restarts the Ronin software bridge that the supposed North Korean hackers targeted.

What's your take on all of this? Should a developer that netted $4 billion in February of this year shortchange its users or steadily reimburse them over time? Let us know below!

Got a news tip? Contact us directly here!

In this article: Axie Infinity, Sky Mavis.

About the Author

Anthony Jones
Anthony Jones, News Editor

Anthony Jones is a gaming journalist and late 90s kid in love with retro games and the evolution of modern gaming. He started at Mega Visions as a news reporter covering the latest announcements, rumors, and fan-made projects. FFXIV has his heart in the MMORPGs scene, but he's always excited to analyze and lose hours to ambitious and ambiguous MMOs that gamers follow.

More Stories by Anthony Jones

Discussion (1)

Flintstone 1 year ago
Nft's are related to blizzard they are both parasites who keep eating away players bank accounts with no accounting for their abuse.

Read Next

You May Enjoy