2 years ago
Axie Infinity CEO and co-founder Trung Nguyen moved $3 cardinal worthy of AXS tokens to Binance earlier disclosing the Ronin span exploit, Bloomberg News reported connected July 28.
Axie Infinity mislaid implicit $600 cardinal to North Korea-linked hackers connected March 29. The crippled developer temporarily suspended the operations of the Ronin span pursuing the hack, with Binance pursuing suit.
The study revealed that Nguyen made a $3 cardinal AXS token transportation 3 hours earlier Sky Mavis announced the hack and suspended entree to Ronin bridge.
According to the report, the transportation came astatine a captious play erstwhile “anyone who knew what was going connected would person had a beardown inducement to merchantability tokens successful the strategy earlier they were temporarily locked up.”
Sky Mavis typical Kalie Moore besides confirmed that the transaction happened. Moore said:
“At the time, we [Sky Mavis] understood that our presumption and options would beryllium amended the much AXS we had connected Binance. This would springiness america the flexibility to prosecute antithetic options for securing the loans/capital required.”
Moore added that the determination to usage Nguyen’s wallet prevented AXS abbreviated sellers from front-running the news. She described immoderate different allegations arsenic baseless.
Nguyen defends action
Following the report, Nguyen said the allegations and speculation of insider trading are baseless and false.
As galore of you know, I similar to run down the scenes, but determination is simply a communicative that dropped contiguous that I privation to code with the community, personally.
— Trung Nguyen (@trungfinity) July 28, 2022
Nguyen said the game’s founding squad besides deposited $7.5 cardinal from a known Axie multi-sig wallet to Ronin Network earlier the bridge’s cognition was paused to debar triggering abbreviated sellers watching.
This communicative includes speculation of insider trading. These accusations are baseless and false. In fact, the Founding Team adjacent deposited $7.5M from a known Axie multi-sig wallet TO Ronin Network anterior to the span closing to debar triggering immoderate short-sellers watching.
— Trung Nguyen (@trungfinity) July 28, 2022
Nguyen pointed retired that the “Bridge has been re-opened with each subordinate funds backed 1:1,” adding that the “media person conveniently ignored this, arsenic it doesn’t acceptable their predetermined narratives.”
Meanwhile, Axie Infinity remains the astir palmy play-to-earn game, arsenic it has sold implicit $4 cardinal worthy of non-fungible tokens and had millions of players astatine its peak.
However, the crippled has mislaid traction since the onslaught and experienced an exodus of players from the platform.
AXS was trading astatine $19.15 arsenic of property clip — 88% beneath its all-time precocious of $164.
The station Axie Infinity CEO moved funds to Binance earlier disclosing Ronin span hack appeared archetypal connected CryptoSlate.
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