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Crypto-AI project Astra Nova blames $10 million loss on market maker hack, pledges to buy back tokens

The Block
Astra Nova attributed a $10 million loss of its RVV token to a third-party market maker hack and promised to buy back the dumped tokens.

Summary

The crypto-AI project Astra Nova reported that approximately $10.2 million worth of its recently launched RVV token was dumped on the market, causing its price to drop by about 50%. The project claims the loss resulted from a compromised third-party market maker account, where 8.6% of the token supply was sold for USDT. Astra Nova assured users that its smart contracts remain secure and pledged to buy back the tokens on the open market to stabilize liquidity and confidence, while also offering a bounty for the return of the stolen funds. However, blockchain analyst EmberCN expressed skepticism about the attack narrative, questioning why a hacker would convert stolen assets into USDT and transfer them directly to centralized exchanges.

(Source:The Block)