The team of the blockchain game Axie Infinity plans to at least partially compensate stolen cryptocurrency attacker. But the project team acknowledged that the process would take time. Bloomberg.
“We plan that some funds will be restored in two years. Two years is a good time for Axie to get more information. We are here for the long haul,” said Sky Mavis COO Alexander Leonard Larsen.
He also added that the company is working with various law enforcement agencies to trace and return tokens, mainly Ethereum. He did not disclose details of the investigation.
Regarding the likelihood of a return of funds, said Rishav Rai, chief investigator from crypto-security firm Merkle Science. According to him, cases of recovery of all stolen funds as a result of major attacks are “very rare.”
Axie Infinity token has risen in price by 115%
Larsen also confirmed that the hack was carried out through a social engineering attack on one of the employees. The hacker gained access to five of the nine nodes, which allowed the unauthorized withdrawal of funds.
To compensate for the stolen cryptocurrency, the company uses $450 million of its own funds. Larsen stressed that the company’s financial position remains strong.
According to data from March 28, the number of users of the game has decreased by 45% from the peak value of November 2021.