Axie Infinity Plummets 7% on News of Bridge Hack

One of the leading play-to-earn blockchain-based metaverse games, Axie Infinity (CRYPTO: AXS) has had a rough few days. As of Tuesday night, the token had dropped 9.8% over a 24-hour period on news that the network's key bridge between Ethereum and Axie Infinity, a side-chain named Ronin, had been hacked. As of 10:15 a.m. ET Wednesday, Axie Infinity tokens had made up some of these losses, but their value was still down 7% over the prior 24 hours.

Image source: Getty Images.

The roughly $600 million hack of Axie Infinity was reportedly one of the largest ever for the crypto sector.

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Source Fool.com