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Trading cryptocurrency involves a high risk and you can lose all your money. Be aware of current regulations and risks before you trade.

Axie Infinity – the way forward after the theft of 600 million dollars

One month ago it was announced that the creators of Axie Infinity, which is one of the most popular blockchain-based online games these days, had been hacked. Read more about security .

Not only had they been hacked – the hackers had also managed to get a pretty good chunk of money. Assets to a value of approx. $ 625 million was gone. These values were taken from the gaming company itself and the company’s players.

This theft was described by many media as one of the biggest thefts in history in connection with cryptocurrency and decentralized online games. One thing that cryptocurrencies and decentralized online games have in common is that they have become quite popular in recent years.

But where does the road go after something so horrible? Not only were they hacked and robbed of wild sums, but it probably also had consequences in terms of the number of players. In this article, we will take a closer look at where the road goes for Axie Infinity.

What is Axie Infinity?

Axie Infinity is an online game developed by Sky Mavis in 2018. This is a game where people create a user and create their own mythical creature that they use in the fight against other players.

The game rewards you with non-fungible tokens, and besides the fact that the game is based on blockchain technology, this is what binds this game together with cryptocurrency.

This is how the theft was discovered

The creators of Axie Infinity discovered the theft as a result of a player failing to make a withdrawal from their account. This happened about 6 days after the theft had taken place.

In an effort to figure out what the problem was, the Axie Infinity team chose to freeze all transactions on their platform. Then they found out that about 625 million dollars were gone .

That’s how they solved it

It’s really hard when so much money disappears, and there is unfortunately very little you can do once the theft has taken place. It is simply very difficult to get your money back – if at all possible.

Shortly after the theft, however, it was announced that the Axie Infinity team had received approx. $ 150 million in investments. These investments would go to repay all the players who were affected by the theft.

What’s the way forward for Axie Infinity?

At the same time as Sky Mavis stated that they had received investments that would cover the players’ losses as a result of the theft, they also stated that they had decided to look ahead and concentrate on the future.

They made this clear by announcing that they would be launching a new version of Axie Infinity. This version will be named Axie Infinity: Origin.

According to the head of Sky Mavis, this was a decision that had been made in plenary. The purpose is to let the past be where it is – in the past – and focus on what comes instead.

  • Copy experts
  • TRADING
  • SPOT
  • Leverage
  • Low fees, secure and popular crypto exchange.
  • Offers social trading - follow the trades to your favorites.
  • You can open an account and make your first trade in minutes.
  • bitcoin
  • ethereum
  • ripple
  • litecoin
  • bitcoin cash
  • dash
  • stellar
  • neo
  • tron
  • zcash
  • binance coin
  • plus more
  • visa payment
  • mastercard payment
  • paypal payment
  • webmoney payment
  • china unionpay payment
  • klarna payment
  • neteller payment
  • skrill payment
  • bank wire transfer payment
  • plus more

Trading cryptocurrency involves a high risk and you can lose all your money. Be aware of current regulations and risks before you trade.