A funding round led by Binance has raised $150 million to reimburse victims of the recent attack that resulted in $622 million getting drained from Sky Mavis's Ethereum sidechain, the Ronin network.

Other companies in the funding round include Animoca, the company behind the popular crypto game The Sandbox, alongside tech venture capital firms a16z and Accel. Crypto investment firms Paradigm and Dialectic also contributed.

Sky Mavis and Axie Infinity will use the funding and pool from their balance sheets to ensure that Ronin Network users can withdraw and deposit freely.

The Ronin bridge is not expected to be fully operational until it has undergone audits and security updates.

The funds stolen from Axie's DAO treasury will remain undercollateralized as Sky Mavis cooperates with law enforcement to recover the funds.

Should the funds not be recovered after two years, the DAO will vote on the treasury's next steps.