Axie Infinity
Axie Infinity’s Discord bot compromised, hackers issue fake minting message
Axie Infinity, the popular play-to-earn nonfungible token (NFT) game, faced another attack on its Discord server earlier on Wednesday, leading to a compromise of its MEE6 bot. MEE6 is a popular discord bot mainly used for automating roles and messages and is used by numerous crypto projects. The attackers used the compromised bot to add permissions to a fake Jiho account and later issued a fake announcement regarding a mint. The developers managed to remove the compromised MEE6 bot from the main server and deleted the fake messages as well. However, the official Twitter account of the project warned that many users might still see the fake message until they restart their Discord. 2/ The announcements have been deleted but some users may still see the message until they restart their Disco...
STEPN move-to-earn tokens GMT, GST hit new highs after Coinbase listing announcement
The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange. The price of STEPN’s governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date. GMT/USD four-hour price chart. Source: TradingView Similarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running outdoors with STEPN’s “NFT Sneakers,” gained 6.5% to about $6.25 on a 24-hour adjusted timeframe with a new record high of $7.20. STEPN ecosystem grows The intraday rallies in GMT and GST markets are part of a broader uptrend that started in early March 2...
Plan for $1M bug bounties and double the nodes in wake of $600M Ronin hack
The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cointelegraph previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth more than $612 million at the time. Earlier this month, the Federal Bureau of Investigation (FBI) attributed the attack to North Korea-based and state-sponsored hacking group Lazurus, as it fired off a warning to other crypto and blockchain organizations. Ronin announced its platform changes via a post-mortem report published yesterday, noting that all user funds are in the process of being restored, as it vowed to ma...
Binance recovers $5.8M in funds connected to Ronin bridge exploit
Via a Twitter post on Friday, Changpeng Zhao, CEO of Binance, said that the cryptocurrency exchange recovered $5.8 million spread over 86 accounts in digital assets moved to the exchange by Lazarus Group. Last month, the North Korean cyber-criminal group allegedly stole 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth over $600 million at the time, belonging to Axie Infinity’s Ronin bridge. As of Friday, the wallet address associated with the Ronin has around $280 million in digital assets remaining. Blockchain forensics company Elliptic recently uncovered that the hackers have been sending the money to centralized exchanges and cryptocurrency trail-mixer decentralized application, or DApp, Tornado Cash. In addition, it appears the hackers also swapped the stolen USD...
Finance Redefined: Axie Infinity creator raises $150M, DApp daily users surge to 2.4M and more
The decentralized finance (DeFi) world saw another week of increased on-chain and developer activity even when the overall market cap took a slight dip amid overall market retrace. The creators of the popular play-to-earn nonfungible token (NFT) game Axie Infinity raised $150 million to reimburse hack victims of the Ronin bridge exploit. The decantralized application, o daily user count surged to 2.4 million in the first quarter of 2022, while SushiSwap (SUSHI) and Synthetix (SNX) were booted out of Grayscale’s popular Decentralized Finance Fund. The widely-popular DeFi protocol Yearn.finance announced its support for the newly-passed ERC-4626 tokenized vault standard. The price momentum of the majority of DeFi tokens remained in red over the past week, as the overall crypto market registe...
Finance Redefined: Axie Infinity’s Ronin bridge faces worst hack, Binance launches Bridge 2.0 and more
The last week of March saw the decentralized finance (DeFi) market surge to new highs as institutional investors returned to the market. Amid the rising popularity of DeFi products, Axie Inifity’s Ronin bridge faced the worst hack in crypto history, raising security concerns for the market. MetaMask integrated Apple Pay support, allowing users to purchase crypto using their Apple Pay account directly, and Binance launched Bridge 2.0 to integrate CeFi and DeFi into one platform. Looking at the price side, the majority of DeFi tokens in the top 100 not only registered double-digit gains but also rose to new multi-month highs, with several tokens seeing three-digit gains over the past week. Axie Infinity’s Ronin bridge hacked for over $600M According to Axie Infinity’s official Discord and Ro...
Top 5 cryptocurrencies to watch this week: BTC, ADA, AXS, LINK, FTT
Bitcoin (BTC) is attempting to notch its second successive weekly gains and end at the highest weekly closing price year-to-date. According to on-chain data from Glassnode, the recovery in Bitcoin’s price was driven by demand in the spot markets. This is likely to cheer the bulls because history suggests that spot market demand leads to sustained upside. Another positive sign is the strong demand for the ProShares Bitcoin Strategy exchange-traded fund (BITO) in the past two weeks, which pushed its exposure to a record high. Arcane Research said the strong inflows “suggest that Bitcoin appetite through traditional investment vehicles is increasing.” Crypto market data daily view. Source: Coin360 Along with Bitcoin, the broader crypto space is also attracting investors. According to re...
Report: Axie Infinity accounted for nearly two-thirds of blockchain-game NFT transactions in 2021
According to a recent report curated by NonFungible, players of the monster-battle nonfungible tokens, or NFTs, game Axie Infinity transacted nearly $3.5 billion worth of NFTs in 2021. This accounts for almost two-thirds of all NFTs transacted in the entire blockchain gaming industry in 2021. In second and third place were sports highlights marketplace NBA Top Shot with $827 million and community gaming platform Loot with $242 million, respectively. Created by Vietnamese video game developer Sky Mavis in 2018, the game contains creatures called “Axies” that players collect and use to complete daily quests, duel other players, etc. Every Axie is an NFT minted on the Ethereum (ETH) blockchain. Completing tasks with Axies rewards players with Smooth Love Potions (SLPs), which can ...
Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone
The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split between the player, the community manager, and the YGG DAO. YGG reported that in February, scholars farmed more than 26.4 million SLP, the native token for Axie Infinity. This figure represents a 57% increase from January’s farming figures. It added...
Web3 gaming in the third world: Axie facilitating billions
The research department of blockchain analytics platform Nansen have published a comprehensive guide to popular play-to-earn game Axie Infinity, calculating quantitative insights such as that 2.8 million unique addresses are currently holding 11.1 million Axies, alongside that 97% of those users hold a minimum of three Axie nonfungible tokens, or NFT’s. Axie Infinity is a play-to-earn game constructed around the collection of, and interaction with, digital pet avatars called Axies. Built by Vietnamese gaming studio Sky Mavis in March 2018, the game rose to cultural prominence during 2019 following the emergence of stories in which players from third-world countries such as Venezuela and Philippines were making a full-time living off of Axie’s native crypto assets: Smooth Love Potion ...
AXS, RON and SLP surge after Axie Infinity developers revamp the project’s tokenomics
Since launching in 2018, Axie Infinity has amassed over 2 million daily active users (DAUs) and its decentralized exchange, Katana, has a market cap of $5.5 billion, but this growth has not come without challenges. Axie Infinity’s in-game token, Smooth Love Potion (SLP) decreased nearly 93% from it’s all-time high in July 13, 2021 of $0.39 as it faces uncontrollable inflation. As such, the team has announced it will significantly remove SLP issuance from the game, making it harder to farm. Gamers and guilds will, in turn, focus their attention on their strategic competitive edge and the potentially increased price of SLP will inevitably result in the increased price of Axies as the cost to breed would increase all the same. SLP token price. Source: Nansen.ai According to data, SLP’s ...
Axie Infinity token AXS gains 40% after taking steps to avoid ‘permanent economic collapse’
The price of the Axie Infinity (AXS) token has surged by nearly 40% in three days. AXS rallied to over $65, its best level in more than two weeks, as Axie Infinity revealed a revamped reward structure for its player-vs-player (PVP) competition round. In detail, the play-to-earn startup expanded its number of leaderboard slots to 300,000 and boosted the amount of AXS rewards to 117,676 from the earlier 3,000 for the next season. “This will supercharge the competitive Axie scene and create more demand for quality Axie teams in the ecosystem,” Axie Infinity explained, adding that their move would create a $6 million worth of prize pool for Season 20. AXS/USD daily price chart. Source: TradingView Economic revamp boosts AXS demand AXS serves as a governance token for the Axie ...
