Axie Infinity Creator Sky Mavis Announces 21% Layoffs Citing Strategic Shift

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TheNewsCrypto 13h ago

Axie Infinity Creator Sky Mavis Announces 21% Layoffs Citing Strategic Shift - TheNewsCrypto

Quick Summary:

Despite announcing plans for expansion in the next year, Axie Infinity maker Sky Mavis has announced the layoff of 21% of its employees.

As per a report by TechInAsia, out of around 250 worldwide team members, over 50 are scheduled to be let off.

Unfortunately, in 2022, the company’s Ronin Ethereum sidechain was heavily hacked, leading to a loss of around $600 million.Also, the U.S.authorities held the hacking organization Lazarus, which was sponsored by North Korea, accountable for this crime.