Binance Leads $150M Funding Round of Axie Infinity Creator

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.

• As CryptoPotato reported 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.
• Today, Binance revealed 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.
• Speaking on the matter was Changpeng Zhao, CEO at Binance, who said:

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. We strongly believe Sky Mavis will bring a lot of value and grwoth for the larger industry and we believe it’s necessary to support them as they work hard to resolve the recent incdient.

• 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.”