- Astra Nova, an AI-crypto project, reported that a compromised account at an external market maker triggered heavy selling of its native RVV token.
- The attacker swapped roughly 8.6% of the total supply for about US$10.2 million in USDT, causing the token price to drop by up to 75% before rebounding.
- The team confirmed that core contracts were unaffected and announced an open-market buyback program while offering a 10% bounty for the return of the stolen funds.
Astra Nova, an AI-crypto project which recently raised over US$48 million (AU$74 million), said a compromised account at an external market maker is behind the heavy selling of its RVV token.
The token, which launched Saturday, fell from about US$0.028 (AU$0.043) to a low near US$0.007 (AU$0.011) before rebounding to roughly US$0.014 (AU$0.022), per data from CoinMarketCap, which is displaying a warning for users about an on-going security incident.
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Astra Nova Announces Token Buyback After Hack
The team recognised the incident and stated on X that core contracts were unaffected. The breach involved a third-party market making account, and on-chain forensics are underway, the protocol said. The team is also considering engaging with law enforcement once evidence is collected.
Astra Nova pledged an open-market buyback program, offering a 10% bounty if funds are returned. In a follow-up X Space, a representative said the project cut ties with the affected market maker and that the roadmap remains unchanged.
As mentioned, the incident came at a terrible time for Astra Nova, which recently raised around US$48.3 million (AU$74.2 million), on top of an earlier round led by Outlier Ventures with participation from family offices and institutions in Saudi Arabia, the UAE, and Bahrain. Yes, it’s that bad.
We had an amazing launch thanks to the incredible support of our community and the hard work of our entire team. Unfortunately, one of our MM account (3rd party) was compromised, and a malicious actor gained control and began liquidating assets.
Astra Nova teamAstra Nova describes its platform as an AI-native entertainment ecosystem with low- and no-code tools for tokenised utilities and mini-apps.
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