Axie-Infinity developer to reimburse hack victims, restart Ronin

People using their mobile phones to play Axie Infinity in Malabon, suburban Manila. Hackers stole 173,600 Ether and 25.5 million USDC tokens from the bridge known as Ronin, which let users swap between different blockchain’s coins. — AFP

Sky Mavis Inc, the developer of the play-to-earn Axie Infinity video game that lost more than US$620mil (RM2.73bil) during a March hack, said it expects on June 28 to reimburse users and reopen the software bridge breached in the attack.

Hackers stole 173,600 Ether and 25.5 million USDC tokens from the bridge known as Ronin, which let users swap between different blockchain’s coins. Overall, the tokens are now valued at about US$216.5mil (RM954mil) in the wake of the tumble in cryptocurrency prices since the attack took place.