| Founded | 2018 |
|---|---|
| Closed | 2023 |
| Country | Vietnam |
| Sector | Gaming |
| Collapse type | Sudden Collapse |
| Founder | Trung Nguyen |
Axie Infinity / Sky Mavis
"The play-to-earn revolution ended with a $625M North Korean heist and collapsing token rewards."
Unexpected shutdown within weeks of a trigger
Key Events Timeline
Sky Mavis's Ronin Network, the Ethereum sidechain powering Axie Infinity, was hacked on March 23, 2022 by North Korean Lazarus Group, stealing $625M in ETH and USDC — the largest DeFi hack in history.
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