'Axie Infinity' publisher raises funds to reimburse users after $625 million hack

Key Facts

The news comes on the heels of recent and widely-publicized hack of the company in which around $625 million in assets were stolen.
The cash infusion is led by Binance with participation from venture capital firms Animoca Brands, Dialectic, Paradigm, Accel and blue chip VC firm a16z, which has previously invested in the company.
The company announced the hack last week on stage at the NFT LA conference, with Sky Mavis' co-founder Jeff "Jiho" Zirlin telling the crowd that "The Ronin network [had] been exploited for 173,000 [Ethereum] and around 25 million dollars in USDC."
The company told Reuters it is "both leading and investing in the future technologies and legislation that will set the crypto industry on the road to becoming a well-regulated, secure industry."