Январь 2010 Февраль 2010 Март 2010 Апрель 2010 Май 2010
Июнь 2010
Июль 2010 Август 2010
Сентябрь 2010
Октябрь 2010
Ноябрь 2010
Декабрь 2010
Январь 2011
Февраль 2011 Март 2011 Апрель 2011 Май 2011 Июнь 2011 Июль 2011 Август 2011
Сентябрь 2011
Октябрь 2011 Ноябрь 2011 Декабрь 2011 Январь 2012 Февраль 2012 Март 2012 Апрель 2012 Май 2012 Июнь 2012 Июль 2012 Август 2012 Сентябрь 2012 Октябрь 2012 Ноябрь 2012 Декабрь 2012 Январь 2013 Февраль 2013 Март 2013 Апрель 2013 Май 2013 Июнь 2013 Июль 2013 Август 2013 Сентябрь 2013 Октябрь 2013 Ноябрь 2013 Декабрь 2013 Январь 2014 Февраль 2014
Март 2014
Апрель 2014 Май 2014 Июнь 2014 Июль 2014 Август 2014 Сентябрь 2014 Октябрь 2014 Ноябрь 2014 Декабрь 2014 Январь 2015 Февраль 2015 Март 2015 Апрель 2015 Май 2015 Июнь 2015 Июль 2015 Август 2015 Сентябрь 2015 Октябрь 2015 Ноябрь 2015 Декабрь 2015 Январь 2016 Февраль 2016 Март 2016 Апрель 2016 Май 2016 Июнь 2016 Июль 2016 Август 2016 Сентябрь 2016 Октябрь 2016 Ноябрь 2016 Декабрь 2016 Январь 2017 Февраль 2017 Март 2017 Апрель 2017 Май 2017
Июнь 2017
Июль 2017
Август 2017 Сентябрь 2017 Октябрь 2017 Ноябрь 2017 Декабрь 2017 Январь 2018 Февраль 2018 Март 2018 Апрель 2018 Май 2018 Июнь 2018 Июль 2018 Август 2018 Сентябрь 2018 Октябрь 2018 Ноябрь 2018 Декабрь 2018 Январь 2019
Февраль 2019
Март 2019 Апрель 2019 Май 2019 Июнь 2019 Июль 2019 Август 2019 Сентябрь 2019 Октябрь 2019 Ноябрь 2019 Декабрь 2019 Январь 2020
Февраль 2020
Март 2020 Апрель 2020 Май 2020 Июнь 2020 Июль 2020 Август 2020 Сентябрь 2020 Октябрь 2020 Ноябрь 2020 Декабрь 2020 Январь 2021 Февраль 2021 Март 2021 Апрель 2021 Май 2021 Июнь 2021 Июль 2021 Август 2021 Сентябрь 2021 Октябрь 2021 Ноябрь 2021 Декабрь 2021 Январь 2022 Февраль 2022 Март 2022 Апрель 2022 Май 2022 Июнь 2022 Июль 2022 Август 2022 Сентябрь 2022 Октябрь 2022 Ноябрь 2022 Декабрь 2022 Январь 2023 Февраль 2023 Март 2023 Апрель 2023 Май 2023 Июнь 2023 Июль 2023 Август 2023 Сентябрь 2023 Октябрь 2023 Ноябрь 2023 Декабрь 2023 Январь 2024 Февраль 2024 Март 2024 Апрель 2024
1 2 3 4 5 6 7 8 9 10 11 12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Game News |

Axie Infinity CEO pulled out $3 million of crypto before $600 million hack was announced

 Axie Infinity CEO pulled out $3 million of crypto before $600 million hack was announced

While the gaming mainstream remains deeply distrustful of anything associated with crypto, one of the apparent successes was Axie Infinity: a Pokémon-style game built around pets called Axies that can be traded, battled and, of course, are claimed to have some sort of 'real' value. Axie Infinity's ecosystem was valued in the hundreds of millions. Then, on March 23, the company's 'sidechain' Ronin network was hacked, with the perpetrators stealing Ethereum and USDC stablecoins that were at the time valued in the region of $600 million.

The game's developer Sky Mavis was forced to acknowledge the hack and disable token withdrawal. But not before Trung Nguyen, the CEO and co-founder, transferred $3 million worth of AXS, Axie's main currency, from the game's blockchain into Binance, a crypto exchange.

I appreciate that this is becoming a word salad of crypto terminology. The important point is that, when the outside world was unaware of the hack, or that trading in the game would be suspended as a result, a key inside player transferred a lot of value out of the Axie ecosystem. Oh: and no-one should have realised.

The transactions were first noticed and analysed by Asobs, a youtuber who analyses the crypto scene. They were tipped off about a wallet that had moved 48,838 AXS tokens from Ronin (the sidechain network) to Binance, a huge amount, and managed to dig back through this wallet's transactions to see it had received the largest initial payment of AXS tokens when the game was launching.

Asobs then tracked down further wallets allegedly belonging to Sky Mavis employees through this method, a great tactic because the studio transfers AXS to employees regularly. Several of these had also made large transactions at the same time as the wallet which Asobs would eventually link to Nguyen. 

Bloomberg Business then picked up the baton, which soon ended up with Sky Mavis admitting to the transaction and that Nguyen owned the wallet concerned.

Kalie Moore, a Sky Mavis spokeswoman, claimed to Bloomberg Nguyen was in fact trying to help the Axie Infinity economy and ensure there was enough liquidity on-hand. She wrote:

"At the time, [Sky Mavis] understood that our position and options would be better the more AXS we had on Binance. This would give us the flexibility to pursue different options for securing the loans/capital required. The Founding Team chose to transfer it from this wallet to ensure that short-sellers, who track official Axie wallets, would not be able to front-run the news."

Moore adds that suggestions of any other motive are "baseless". Subsequent to this coverage, Nguyen himself took to social media:

See more

"This story includes speculation of insider trading," writes Trung. "These accusations are baseless and false. In fact, the Founding Team even deposited $7.5M from a known Axie multi-sig wallet TO Ronin Network prior to the bridge closing to avoid triggering any short-sellers watching. My life’s work is Axie Infinity and the community we’ve created together. I take ownership of the security breach, and will use it as a learning experience."

Trung also goes on to claim that "the Bridge has been re-opened with all player funds backed 1:1. Many in the media have conveniently ignored this, as it doesn’t fit their predetermined narratives."

It is true that, following the hack, Sky Mavis immediately raised just over $150 million in funding, some of which was earmarked to reimburse victims of the attack, and the trading suspension was only temporary. But the 1:1 claim neglects to mention that the value of an AS token was $64 before the hack and is now trading at more like $18.

"We can see the money moved," Asobs says. “The only question is what happened behind the money moving.”

See more

Whatever has gone on here, it's murky in a manner that is typical of crypto: a space where tangible value is always several steps removed and, in the cases of ecosystems like that of Axie Infinity, ultimately controlled by its keepers.

Of one thing there is no doubt, and that is the hack was very real. The US Treasury department pinned the heist on the North Korea-based hacker collective that calls itself Lazarus Group, and added them to its international sanctions list, saying in a statement sent to PC Gamer that this was due to the FBI identifying a digital wallet associated with the heist.  

"Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum reported on March 29th," an FBI representative told PC Gamer. "The FBI, in coordination with Treasury and other U.S. Government partners, will continue to expose and combat the DPRK’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime."

Lazarus Group has stolen hundreds of millions of dollars worth of crypto over recent years, and some crypto security experts estimate that as a result the rogue nuclear state may now be sitting on over half a billion of unlaundered crypto assets. The US says this is all about avoiding sanctions and funding its weapon programs, and takes the threat very seriously: recently jailing a former employee of the Ethereum Foundation for more than five years (and fining him $100,000) for giving a presentation in North Korea in 2019 on "using cryptocurrency technologies to evade sanctions and launder money." Probably wasn't the wisest title for a talk.

As for Axie Infinity, it chugs along, though recent reports suggest its in-game economy is having its own collapse as digital 'landlords' struggle to find players willing to do the dirty work for them. Play to earn has never seemed an especially attractive prospect, and when you look at the kind of stories that coalesce around these projects, no wonder.



Читайте также

Steam is about to have a big sale on shooters of the first-person variety

Six years after Kingdom Come Deliverance, Warhorse Studios is announcing its new game next week

Slay the Spire 2 — анонс, тизер и кадры

Москва

Илья Головченко и Екатерина Стрелкова: «Хотим вписать своё имя в историю»

Новости тенниса



Game24.pro — паблик игровых новостей в календарном формате на основе технологичной новостной информационно-поисковой системы с элементами искусственного интеллекта, гео-отбора и возможностью мгновенной публикации авторского контента в режиме Free Public. Game24.pro — ваши Game News сегодня и сейчас в Вашем городе.

Опубликовать свою новость, реплику, комментарий, анонс и т.д. можно мгновенно — здесь.



Персональные новости

Мадина Байрамукова рассказала о трендах эстетической косметологии

Год лежали дома мертвые. Мать и сын в Москве превратились в мумии

"Лето ближе - цены ниже!" - ТМ Электроникс объявляет о сезонных скидках

Илья Головченко и Екатерина Стрелкова: «Хотим вписать своё имя в историю»