TLDR
- Astra Nova lost $10.3M after a market maker’s account was compromised.
- The hacker withdrew 860M RVV tokens, 8.6% of Astra Nova’s total supply.
- RVV’s price plunged over 50% after the exploit, data from CoinGecko shows.
- Astra Nova launched a 10% bounty and buyback to restore market stability.
Astra Nova, a Web3 AI entertainment platform, has announced a bounty and token buyback program after losing more than $10 million in a recent exploit. The breach occurred shortly after the project launched its RVV token, prompting a steep price drop and questions from analysts about the nature of the incident. The platform maintains that the compromise came from a third-party partner’s account.
Astra Nova Confirms Token Exploit After RVV Launch
Astra Nova said the breach took place soon after its RVV token went live. In an October 18 statement, the team confirmed that one of its third-party market maker’s accounts was compromised, allowing an attacker to access the project’s minting contract.
Blockchain data reviewed by analyst EmberCN showed that 860 million RVV tokens, or about 8.6% of the total supply, were withdrawn from the contract. The stolen tokens were then exchanged for Tether’s USDT stablecoin, with an estimated total loss of $10.3 million. Astra Nova did not specify the number of tokens affected in its statement but confirmed ongoing forensic reviews of the incident.
RVV Token Price Drops Over 50% Following the Breach
The theft triggered a sharp market reaction. Data from CoinGecko indicated that RVV’s price fell more than 50% within 24 hours, dropping from $0.26 to around $0.0103. On-chain analysis revealed that approximately $8.2 million worth of the converted funds was moved to centralized exchanges such as Gate and KuCoin, while $2 million remains in a tracked wallet.
EmberCN questioned the nature of the attack, noting that the movements did not resemble common hacker behavior. The analyst wrote, “Which hacker would convert stolen assets into USDT and hold onto them? And even transfer them directly to a CEX? USDT can be frozen.” This statement raised doubts among community members about whether the exploit was external or involved internal compromise.
Project Announces Token Buyback and Bounty Program
In response to growing scrutiny, Astra Nova reaffirmed that the breach was caused by an external compromise. To restore confidence, the team announced a token buyback plan equivalent to the number of tokens stolen. The initiative aims to stabilize RVV’s liquidity and reassure investors affected by the price drop.
The project also launched a 10% bounty program for the recovery of the stolen assets. Astra Nova offered amnesty to the attacker if the funds were returned in full to a verified recovery address. “If you return the full amount to the verified recovery address shared on our official channels, no further action will be taken,” the team stated. The bounty will be transferred after confirmation by the project’s forensic team.
Market and Community Response
Following the announcement, Astra Nova’s team said it was cooperating with blockchain investigators and exchange partners to trace the stolen funds. The team has urged exchanges to monitor suspicious deposits of USDT that may be linked to the incident.
Despite the controversy, trading activity in RVV has continued, with some traders speculating on a price recovery after the buyback plan was revealed. Analysts suggest that the project’s next steps in managing transparency and restoring liquidity will be crucial in maintaining investor trust.
The hack has once again drawn attention to security challenges in the Web3 and decentralized finance space. Astra Nova’s case shows how breaches through third-party partners can expose even newly launched projects to substantial losses and market instability.
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