Trung Nguyen – Co-Founder and CEO of Axie Infinity – said the accusations against him of being engaged in insider trading are “baseless and false.” However, he admitted transferring $3 million worth of AXS to “ensure that short-sellers would not be able to front-run the news.”In March this year, Ronin Bridge – an Ethereum sidechain built for the popular blockchain-based game Axie Infinity –the victim of one of the largest cryptocurrency hacks ever.
The attack quickly grabbed society’s attention, while numerous agencies carried out investigations to find out who stood behind it. The Federal Bureau of Investigation Despite the multi-million theft, Axie Infinity’s teamto reimburse affected clients. Last month, Ronin Bridge restarted its operations with all user funds returned.Trung Nguyen – Chief Executive Officer of Axie Infinity – of moving $3 million worth of AXS from the platform to Binance hours before the incident.
Nguyen further stated that the Founding Team even moved $7.5 million from an Axie multi-sig wallet to Ronin Network to ease the turbulence caused by the hack. Subsequently, the executive said he is proud of the fact that operations have been restored and all victims received their stolen funds, hinting that this news did not “fit the predetermined narratives” of some media outlets.
“My life’s work is Axie Infinity and the community we’ve created together. I take ownership of the security breach and will use it as a learning experience,” Nguyen concluded.informed“The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance spread across over 86 accounts. $5.8M has been recovered. We have done this many times for other projects in the past, too.
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