Axie Infinity is in trouble. As a result of a hacker attack – an attack that was successful – the game lost almost $600 million in cryptocurrencies. To reimburse some of its users, the game has raised funds from some investors. However, this is not enough. Its developer has revealed that it will be a long road to recover even a “part of the stolen cryptocurrencies”.
Recover lost funds at any cost by Axie Infinity
Sky Mavis, the developer of Axie Infinity, feels that the situation is difficult and tense. Indeed, after the theft of almost $600 million that his game has suffered, it will take about 2 years to recover part of the funds. However, he says to himself “ready to play the long game”.
Last Thursday, Aleksander Leonard Larsen, the chief operating officer of Sky Mavis, spoke to Bloomberg about the procedure for recovering funds. He indicated that it could be a long process. “What we assume over the next two years is that some funds will be recovered”, he said.
He believes that this is a reasonably sufficient time to obtain more information about the hack, stressing that the company is ready to play the long game. “Two years for Axie is a good period for us to get more information. We are here to play the long game”, he clarified.
At the moment, in order to successfully track down the hackers, Sky Mavis collaborates with law enforcement agencies, but she did not say more about this case. Recovering the lost funds will prove useful and life-saving for the company, because, in order to reimburse its customers, it had to release about $450 million from its balance sheet.
The slim hope of finding the hackers
According to Sky Mavis, the chances of being able to track down the hackers and recover the stolen money are very thin. For good reason, the hackers operated carefully. After stealing the money, according to the data of the Ethereum (ETH) chain, they made a migration to the Tornado Cash mixer.
Rishav Rai, the lead investigator of Merkle Science who is in charge of the investigation, clarified that the total recovery of the money may be difficult, if not impossible. However, even if it may prove very difficult, it will not be that impossible, since the hackers themselves will face a challenge: that of successfully liquidate stolen assets without getting caught.
The investigator points out that mixers like Tornado Cash are not created in order to accommodate such a large amount of money (the $ 600 million). As a result, he remains optimistic. He thinks that in any case, when hackers make moves with the stolen money, it will be easy to find them.
Unfortunately, in the meantime, Axie Infinity is losing more and more customers who, because they fear that the platform will be hacked again, abandon it to look for safer solutions.
Following a hack that caused it to lose about $ 600 million, Axie Infinity finds itself in a bad position. The company plans a period of 2 years to recover even a part of the funds stolen by hackers.
Source : Be[in]Crypto
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