Why did acclaim games shut down

It all started from the original game from Acclaim, Bots Acclaim. It started from two normal players from Bots Acclaim named, Fira and IWonderWhoHack, To begin, Fira was just a normal player until her friend introduced her to IWonderWhoHack, they became best friends and he introduced a packet editor, from that they learned many ways of Bots Acclaim and learned that they could hack it, from that they started to work on Twilite a hacking engine because they got bored, from that they could hack Bots Acclaim which made Acclaim lose lots of money, the hackers were able to change their color text, turn server on and off, kick players if they wanted to, infinte life/damage, and etc. From that they released the hack and everybody started hacking. And the game was full of hackers, this made the Acclaim company lose much more money, from that they had to sell there company. And Acclaim was shut down.