July 29, 2022
Sky Mavis, company behind Axie Infinity video game, revealed a $622 million hack back in March.
The company froze the assets of its users before they could react to the news.
Hours before the hack announcement, Axie Infinity CEO, Trung Nguyen, made a large transaction that included about $3 million worth of AXS tokens.
Nguyen moved $3 million worth of tokens to Binance.
However, the company claims that Trung did that to protect the company's funds.
According to the Bloomberg report, Axie Infinity said the CEO had been working to shore up the company’s finances during the crisis.
“I take ownership of the security breach, and will use it as a learning experience” Nguyen tweeted post hack.