The largest cryptocurrency exchange Binance will no longer invest in the popular blockchain game Axie Infinity and its developer Sky Mavis. Earlier in April, the CEO of the exchange, Changpeng Zhao, pledged $150 million to help restore the Ronin Bridge, which lost about $600 million due to the hack.
According to Binance representatives, Sky Mavis can now cover these losses.
“Sky Mavis was able to resolve the situation and return the funds. Sky Mavis can now refund users without significant investment from Binance. Binance will no longer be the lead investor for Sky Mavis. However, Binance will continue to support Sky Mavis.”
According to some information, the final amount of the invested funds will remain undisclosed. Many say that this amount is much less than initially stated. The exchange will continue to advise Sky Mavis in the meantime.
Ronin was relaunched on June 28, and the stolen funds were returned to all users before launch.
Last week it also became known that the chain of events that led to the hack began with a phishing message to one of Sky Mavis employees.