Axie Infinity CEO Denies Accusation of Insider Trading #togrp7

Trung Nguyen – Co-Founder and CEO of Axie Infinity – said the accusations against him of being engaged in insider trading are “baseless and false.” However, he admitted transferring $3 million worth of AXS to “ensure that short-sellers would not be able to front-run the news.”

In March this year, Ronin Bridge – an Ethereum sidechain built for the popular blockchain-based game Axie Infinity – became the victim of one of the largest cryptocurrency hacks ever. Bad actors breached its security and drained over 173,000 ETH. The assets equaled more than $600 million at the time. The Federal Bureau of Investigation (FBI) estimated that the perpetrator is the notorious North Korean hacking group – the Lazarus Group. #togrp7

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