After the major hack worth more than $600 million into Axie Infinity’s Ronin bridge at the end of March, Sky Mavis CEO Nguyen Thanh Trung made his first public appearance on April 14.
Sky Mavis CEO claimed he was enraged when he learned of the attack because the amount of money stolen was too much for the company and Axie Infinity players.
Trung shared his story at the Endeavor Vietnam Scale-Up Forum on April 14:
“Just as I was about to board the plane, the company’s CTO contacted to report the attack. I had a lot of mixed emotions, and all I wanted to do was track the progress, update the news, and deal with it, but I couldn’t. What am I supposed to do now that the plane is going to take off?”
Axie Infinity’s developer expressed his dissatisfaction and anger at why hackers are so selfish. He stated that this is not only the company’s narrative but also the story of countless individuals. Over 600 million dollars have been taken. This can directly impact the lives of many players who put their hard-earned money into the game. Many people may have bad attitudes as a result of their experiences here.
When Thanh rapidly calmed down after having mixed thoughts, he thought he was pretty stable. When he returned home after landing at the airport and discovered that everyone in the tiny family was still cheerful and smiling while his heart was sorrowful, he was utterly devastated. Sky Mavis CEO explained.
“It was a feeling of helplessness, I couldn’t adjust my emotions to suit the situation, so I burst into tears,”
Trung and his teammates decided to camp in the company to deal with the problem a few days later. He claims that the amount of money lost is not the issue that concerns him the most, and what worries him the most is how to keep the group’s mentality in check.
Before the incident, a friend in the operation team dreamed about the project being hacked before the incident. He said:
“This person was concerned the last time he dreamed of being hacked; now it’s happening, and I’m scared he’ll collapse. When faced with a dilemma, the first thing I must do is remain cool. People feel in control of their emotions, secure, and rely on one another to keep the organization running smoothly. However, suppose one person is shocked or unhappy. In that case, the negative energy spreads across the entire system, making things even more perplexing.”
He and the other members continued to meet, updating the situation and working together to find the optimal solution. There are numerous possibilities available, but CEO Sky Mavis believes that there are only two viable options in the end. One option is to keep going, while the other is to stop.
Sky Mavis’ members have no intention of ever stopping. If the company wants to keep going, it only has one option: protect its reputation, overcome the repercussions, and refund the money to users, according to Trung.
Sky Mavis CEO thinks that the most challenging and stressful moments are also the best learning opportunities. However, this lesson is too expensive, and if given the option, no one would choose to pay the price for such a lesson. On the other hand, the team grew a lot as a result of the experience.
According to Nguyen Thanh Trung, one of the causes of the tragedy was that the development team did not fully realize the significance of the work, particularly in the security stage.
They believed that such security investment was only temporary at the time and did not think that the project could be attacked at some point. “It’s like that in terms of analysis,” Trung replied, “but the subjective cause is still carelessness.”
From a broader market viewpoint, CEO Sky Mavis thinks that the fast-growing industry is one of the reasons for the increasing amount of attacks on blockchain initiatives. Staffing in the industry, particularly in the field of security, is quite scarce.
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