Sky Mavis, the operator behind the Axie Infinity game, is offering up to $1 million in AXS tokens to any white hat hacker who detects bugs and vulnerabilities in the project’s systems.
The company announced the launch of its rewards program Sky Mavis Bug Bountycreated with the idea of keeping the Ronin network safe. This after having suffered an attack in March exploit which cost him the millionaire loss of 173,600 ethers (ETH) for more than 600 million dollars.
In a release official, Sky Mavis invites the community to detect vulnerabilities, mainly those related to its smart contracts and blockchain, as well as on its website and applications.
Rewards for the first category will range from $1,000 to $1 million, while bug detection for the second category will be rewarded up to $15,000. The amount to be allocated depends on the level of threat detected between low and critical levels, as the note points out.
The team behind Axie Infinity added that those who report highly dangerous failures will be rewarded with specific monthly amounts in AXSfor a period of six months.
As reported by CriptoNoticias, at the end of March, Sky Mavis’s Ronin validation nodes and Axie DAO validation nodes were compromised, resulting in the loss of a large sum of money. The developers were unaware of the attack until a user reported that he was unable to withdraw 5,000 ethers using chain bridge.
Because Sky Mavis’s Ronin is a blockchain with nine validator nodes, at least five signatures are needed to acknowledge a deposit or a withdrawal. Precisely that was taken advantage of by the hacker, “who managed to control the four Sky Mavis Ronin validators and a third-party validator run by Axie DAO”, as reported later.
Binance later announced that it was leading a $150 million funding round, as a contribution to reimburse the funds stolen from the victims of the hack.
In addition to Binance, the firms Animoca Brands, a16z, and Dialectic, among others, participated in the financing round.
Sky Mavis Co-Founder and COO Aleksander Larsen said what work to prevent new hacks and between the measures What they have taken is to have ten out of eleven validation signatures to recognize deposits and withdrawals on the Ronin network.
“In the future our security system will be a high priority for us, because we have learned that the bridge between chains is a crack in our armor,” he explained.
Everything plummets in Axie Infinity
After the hack, AXS token has plunged almost 30% over the last 2 weeks. Today, the Axie Infinity Governance Crypto Asset is worth $48.45, according to coingecko. This after experiencing a modest rally that took it above $70.
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The AXS token is not the only thing that is plummeting in Axie Infinity, as the video game that had a great year in 2021 is having a hard time retaining its players. According to data of Dapp Radar, the digital pet project, which combines the concept of NFT (Non-Fungible Tokens) and focuses on the method play to earn for breeding and combat, had an average daily drop in gamers of 30% during the first quarter of 2022.
The difficulties that this initiative has been experiencing are probably related to the dissatisfaction that some users have been expressing regarding the profit margin they obtain while they play, which has been progressively decreasing.
Also, in mid-March, the community that revolves around the game was affected by a bug that caused some Axies to crash during an arena match.
The bug allowed a player to win game after game during their duels in the arena. In this way, they could quickly climb the ranking by multiplying the cups won in a short time and adding Smooth Love Potion (SLP) tokens with no delays and practically no skills.
From now on, we have to wait and see what the strategy that the Sky Mavis team will implement to recover the lost players will be, since, at present, the video game is in box number 13 among the Dappradar ranking for NFT-based games.