Sky Mavis raises $150 million to reimburse Ronin hack victims

The $600 million exploit, disclosed last Tuesday, saw a hacker steal 173,600 ether and 25.5 million in USDC stablecoin from the game a week prior, making it one of the largest ever exploits in the crypto industry.

Sky Mavis added it was in the “process of implementing rigorous internal security measures.” To bolster the game’s security, Sky Mavis has replaced its Ronin sidechain validator nodes that got compromised in the hack.

Meanwhile the Ronin bridge that lets users transfer assets into the game from Ethereum remains shut and will only open only after multiple security audits have been completed. That may take several weeks, according to Sky Mavis.