Astra Nova, an AI-powered leisure platform, has confirmed a significant loss involving its newly launched RVV token.
In an October 18 assertion, the venture mentioned the breach was linked to a compromised account belonging to considered one of its third-party market makers.
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Astra Nova Loses Over $10 Million in RVV Token
The workforce mentioned the attacker struck quickly after the token’s debut, exploiting a compromise available in the market maker’s account.
Astra Nova didn’t disclose the entire quantity of tokens drained from the exploit.
Nonetheless, blockchain analyst EmberCN estimated the loss at roughly $10.3 million.
The analyst mentioned on-chain information exhibits that the attacker withdrew 860 million RVV tokens—about 8.6% of the entire provide—from the venture’s minting contract. These tokens had been later exchanged for Tether’s USDT stablecoin.
The huge sell-off triggered a right away market response. Based on CoinGecko, RVV’s value plunged greater than 50% inside 24 hours, sliding from $0.26 to roughly $0.0103 as of press time.
EmberCN added that about $8.2 million of the proceeds had been moved to 2 centralized exchanges, together with Gate and KuCoin. One other $2 million stays in an on-chain pockets at present underneath commentary.
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Contemplating this, EmberCN questioned Astra Nova’s account of occasions, arguing that the transaction sample doesn’t resemble typical hacker habits.
“Which hacker would convert stolen belongings into USDT and maintain onto them? And even switch them on to a CEX? USDT will be frozen, and going straight to a CEX—the place are there hackers this silly,” EmberCN wrote.
Token Buyback and Bounty Supply
In response to the skepticism and the market crash, Astra Nova reaffirmed that it was a sufferer of an exterior compromise, not inner foul play.
The venture introduced plans to repurchase the identical variety of RVV tokens affected by the breach. The transfer goals to stabilize the token’s liquidity and reassure buyers.
On the similar time, the Astro Nova workforce additionally launched a ten% bounty program for anybody who returns the stolen belongings to a verified restoration deal with.
The venture’s workforce mentioned it could not pursue authorized motion if the complete quantity is returned. It additionally described the supply as a possibility to “shut this peacefully.”
“When you return the complete quantity to the verified restoration deal with shared on our official channels, no additional motion might be taken, and the bounty might be transferred as soon as confirmed by our forensics workforce,” the venture acknowledged.