Sky Mavis Pledges to Reimburse Players Following Axie Infinity Hack

The company behind the popular play-to-earn game made the promise after a $625 million hack.

AccessTimeIconMar 30, 2022 at 2:51 p.m. UTC
Updated May 11, 2023 at 7:18 p.m. UTC

Sky Mavis, the company behind popular play-to-earn game Axie Infinity, has pledged to reimburse players after hackers stole $625 million from the underlying Ronin blockchain.

  • “We are committed to ensuring that all of the drained funds are recovered or reimbursed, and we are continuing conversations with our stakeholders to determine the best course of action,” a Sky Mavis spokesperson said in a statement to CoinDesk. Bloomberg first reported on Sky Mavis’ pledge.
  • The stolen funds included the deposits of players and speculators, plus revenue from the Axie Infinity Treasury, Sky Mavis Chief Operating Officer Aleksander Leonard Larsen told Bloomberg.
  • The attacker found a backdoor in a Ronin node then used hacked private keys to create withdrawals. The losses included 173,600 ether and $25.5 million in USDC.
  • AXS, the token behind Axie Infinity, fell as much as 11% after the hack was announced, while the Ronin blockchain token RON fell about 20%. AXS is down 7% over the last 24 hours and has declined over 20% since the announcement of the hack.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.