Binance Rescues Victims in Ronin Hack, Worth $615M

According to Reuters, the Crypto Exchange Binance said on Wednesday that the “bridge” hacker who was previously called RONIN was rescued for assistance. - 2022-04-07T164536.817.jpg

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Ronin Network is an Ethereum sidechain created with Axie Infinity’s community, back by Vietnam-based company Sky Mavis.

Last week, The Hackers Reportedly stole around 173,600 ether and $ 25.5 Million in coin tokens on March 23. Currently, the prices of the stolen funds are worth approximately $ 615 million.

After hacking and stealing from the Ronin blockchain, the Singapore-based game studio Sky Mavis pledged to repay users on March 31.

Sky Mavis said it would reimburse lost funds through bailment monetary funds and investors, including encrypted currency exchange bonuses and venture capital companies a16z.

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The CEO of Binance, Changpeng Zhao, said:

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

CEO from Sky Mavis Trung Nguyen commented that:

“Sky Mavis Is Committed to Reimbursing All of Our Users’ Lost Funds and Implementing Rigorous Internal Security Measures to Prevent Future Attacks,”

Sky Mavis indicates that you may take a week to audit and safely upgrade, which will allow the user to have a platform for access.

Image source: Shutterstock

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