• May 21, 2024

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Axie Infinity Raises $150M from Binance and Other Companies

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Sky Mavis, the developer behind blockchain game Axie Infinity, has just closed a $150 million funding round led by Binance.

According to the company, the funds will be used to compensate for the losses of users affected by the recent attack on the Ronin sidechain.

Other participants in the fundraising include Animoca Brands, a16z, Dialectic, Paradigm and Accel.

A hacker withdrew from the Ronin sidechain “deposits of players and speculators, as well as income from the treasury of Axie Infinity” with a total value of about $625 million on March 29. Later, Sky Mavis promised to return the stolen funds to all the affected users.

The company devs are working with law enforcement to recover the stolen 56,000 ETH. If these efforts fail, Axie DAO will vote on Treasury’s next steps.