Aurory Gaming Platform on Solana Suffers Breach, Liquidity Drops 80%
Summary:
The Solana-based gaming platform, Aurory, experienced a security breach on December 17, leading to an 80% drop in the liquidity of the AURY-USDC pool on Carmelot, a decentralized exchange. Unofficial sources suggest the exploit targeted Aurory's SyncSpace bridge, dropping the pool's liquidity from $1.5 million to approximately $312,000. Aurory team members’ tokens were stolen and promptly sold, affecting the AURY token price. Other recent security breaches in the cryptocurrency industry have also been reported.
On December 17, an alleged security breach affected the gaming platform Aurory, which is built on the Solana blockchain. This caused a significant 80% plunge in the liquidity of the AURY-USDC pool on the decentralized exchange Carmelot. As per unofficial sources on social media platform X (formerly Twitter), the hack targeted Aurory's SyncSpace - a bridge on the native DEX Camelot of the scaling solution Arbitrum at approximately 13:00 UTC. This event dropped the liquidity of the AURY-USDC pool from $1.5 million to about $312,000. The team behind Aurory was contacted by Cointelegraph for a comment but has not yet responded.
Camelot V3 shows the liquidity of the AURY-USDC pool. SyncSpace serves a vital role in the Aurory ecosystem - it enables users to transfer items between on-chain and off-chain in one transaction. This allows assets gained within the game, initially off-chain, to be transferred to the blockchain once the user opts to DeSync them. Aurory's team in their October 2022 blog confidently stated that the possibility of a cross-SyncSpace hack was negligible because the system necessitates signatures to Sync/DeSync assets.
In a conversation on X, Tim, a member of the Aurory team, disclosed that the team's tokens were swiped and promptly sold off. He confirmed that these tokens are being purchased back and a thorough investigation is underway. A detailed analysis of this incident would be published following a complete audit. At the time, AURY was trading at $1.23, showing a decrease of 11% over the past 24 hours. The breach dipped the token price to a low of $1.13. A user expressed, "The hacker detonated the chart, early buyers have seen a 5-fold increase in 45 minutes, and now the entire pool is skew with barely any liquidity."
Apart from this situation, there have been other security occurrences within the cryptocurrency industry over the weekend. On December 16, the NFT Trade platform suffered a breach that affected two of its older smart contracts. Consequently, nonfungible tokens (NFTs) worth nearby $3 million were stolen. Subsequently, most of these tokens were returned in exchange for a 10% bounty paid to the intruder. As per Magazine, NFT Creator: Pudgy Penguins GIFs just surpassed10B views and its CEO is now challenging titans like Disney and Hello Kitty.
Published At
12/18/2023 12:35:47 AM
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