$3 million worth of AXS tokens were moved to Binance by Axie Infinity CEO and co-founder Trung Nguyen before disclosing the Ronin Bridge Exploit, which affected many investors that are invested in the token and the game.
The unusually large transaction was first discovered by a YouTube gaming channel named “Asobs,” which connected the digital wallet to Nguyen after on-chain forensics.
Sky Mavis representative Kalie Moore also confirmed that the transaction happened. However, the representative states that this decision to move the funds to Binance is to prevent AXS short sellers from front-running the news so that the price will not tank too aggressively, which can affect the game and investors.
“As many of you know, I prefer to operate behind the scenes, but there is a story that dropped today that I want to address with the community, personally,” said the Axie Infinity CEO.