Crytek secures capital as it finally comes clean about its financial issues

Crysis developer Crytek is finally talking about its money troubles.

The studio, which is responsible for a number of online games and the powerful CryEngine development kit, has found itself at the center of rumors regarding its inability to pay staff. The company has refused to comment on or acknowledge the truth of those reports until now. Today, Crytek admits that it is in a “transitional phase” and that it needed cash to continue operating. The company claims it secured additional capital, but it declined to comment on the details of the deal or who provided the funds.