"Axie Infinity" developer and publisher, Sky Mavis, announced on Wednesday, April 6, that it was able to raise funds to fulfill its promise of reimbursing the players who lost their funds due to the recent $625 million hack. The company secured a $150 million investment, and it was revealed that Binance led the fundraising.

As per CNN Business, Sky Mavis previously told the players that it would return the funds that were stolen from them, and it has proceeded to take steps in finding the funds to do this. In less than a month, investments have poured in, so the company will be able to reimburse as promised.

The game developer is also working on improving its security by upgrading its system and things that need to be upgraded to prevent any hacking incident in the future. There is also a plan to increase the number of validator groups to 21 before activating the Ronin Bridge again.

The cash investment was led by Binance with cooperation from Paradigm, Animoca Brands, Accel, Dialectic, and blue-chip venture capital firm Andreessen Horowitz that, previously invested in "Axie Infinity." Sky Mavis said that the extra money it will collect would allow users to withdraw their funds that have been unavailable since the hacking incident last month.

Sky Mavis confessed it only discovered the hacking a week after it took place on the Ronin Network. The hackers actually robbed the company on March 23, and that remained undiscovered until the following week. The robbers stole 173,000 Ethereum and about 25 million dollars in USDC. Sky Mavis' spokeswoman Kalie Moore said that of the $650 million, $400 million belonged to the users, while the rest was taken from the company's treasury.

The security breach on the Ronin Network is one of the largest hacking incidents in the crypto space. The Poly Network, a decentralized finance network, was hacked last year, and $600 million in cryptocurrency was stolen, but this was returned later.

"Sky Mavis is committed to reimbursing all of our users' lost funds and implementing rigorous internal security measures to prevent future attacks. Changpeng "CZ" Zhao, Binance's chief executive officer, said in a blog post. "With the support of Binance and other industry leaders, we will be able to quickly expand the validator set from five to 21 validators to ensure the security of the Ronin network. While we address this issue, we are also focusing on the future, starting with tomorrow's launch of 'Axie Infinity: Origin.'"