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Many retail traders victims of Axie Infinity Hack are under no income issues

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Many small-budget players at the Axie Infinity platform are facing some big issues because they are helpless to do anything at this moment to make earning for daily life.

The Axie Infinity blockchain game concept was introduced in the crypto industry in Q1 2018. At that time Axie Infinity was not at that level but from 2020 to 2021 it grabbed that level of traction and inflow of users, where no one project is standing. After the success of the Axie Infinity concept, many projects entered the crypto Industry as an alternative option but they failed to grab success like Axie Infinity.

In the last month on 23rd, the Axie Infinity ecosystem faced a hacking attack and lost around $620 million worth of crypto assets, which seems going to be the biggest hacking attack for this year. 

The main breach was associated with the Ronin network, where hackers attacked and stole the money by successfully exploiting the bridge. 

Through the play-to-earn game, many users were making small and big earnings in SLP and AXS tokens and after that, they were selling the tokens for fiat money. After the hacking attack, Sky Mavis claimed that they will try to recover the stolen funds and also has suspended the bridge to see if any more bugs or loopholes exist. 

In all these things, small budget players or low-income makers are under very big pressure because they are not able to move the funds. However, the gaming platform allows users to withdraw funds through Binance but it is not enough for all users because many of them lost funds and many of them are not able to move out without the use of Binance. 

Catherine Fleck, associate professor in computing and social responsibility at De Montfort University, commented on this matter and noted that fixing and delaying the bridge will surely negatively impact many users, especially small income generators. 

“Even a few days’ delays in refilling the bridge, that’s going to affect someone feeding their family or paying bills.”

Read also: Goldman Sachs is now has non-anti crypto stance

Many retail traders victims of Axie Infinity Hack are under no income issues

 

https://bitcoinik.com/many-retail-traders-victims-of-axie-infinity-hack-are-under-no-income-issues/feed/

https://bitcoinik.com/many-retail-traders-victims-of-axie-infinity-hack-are-under-no-income-issues/feed/

 

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