The Hack that Resulted in Liquidity Loss for Aurory (AURY) Tokens on Solana

The Hack that Resulted in Liquidity Loss for Aurory (AURY) Tokens on Solana

Aurory (AURY), a blockchain-based tactical Japanese role-playing game built on Solana (SOL), has recently encountered a major liquidity loss in its Camelot’s AURY-USDC pool. The incident was a consequence of a hack on the SyncSpace bridge, which led to the unauthorized withdrawal and subsequent market sale of approximately 600,000 AURY tokens on the Arbitrum (ARB) network. This article explores the details of the incident and its impact on Aurory and its token, AURY.

In an official statement released on December 17, the team at Aurory revealed the specifics of the hack. The team noticed unusual activity on their marketplace and immediately launched an investigation. The investigation uncovered that a malicious actor had taken advantage of the marketplace’s buy endpoint. This exploit enabled the attacker to inflate their AURY balance in SyncSpace, allowing them to withdraw around 600,000 tokens to the Arbitrum network. Subsequently, the stolen tokens were liquidated by selling them on the market.

To safeguard user funds, SyncSpace was swiftly disabled for maintenance, temporarily suspending deposits and withdrawals. Fortunately, the statement assured that no user funds or non-fungible tokens (NFTs) were lost or at risk during the incident.

The AURY tokens involved in the hack originated from a team wallet, which facilitated withdrawals for accounts that had not previously deposited AURY. The Aurory team highlighted that the exploit is no longer ongoing, as SyncSpace remains offline for maintenance. Thus, there is currently no immediate risk of further exploits.

It was also confirmed that the attacker has exhausted their supply of AURY tokens, signifying that they no longer possess any tokens to sell. SyncSpace intends to conduct a thorough investigation to determine how the exploit managed to go undetected despite the previous expert audit. The team plans to release a comprehensive post-mortem report once the necessary fixes have been implemented and the investigation is finalized.

Impact on AURY Token Price

Prior to the incident, AURY had been on an upward trajectory. Since October 30, the token had experienced significant price gains, culminating in a yearly high of $1.9008 on December 12. However, following the recent exploit, the price of AURY has retraced to $1.0868. This marks a decline of 23.5% over the past 24 hours and a substantial drop of 36.5% over the past seven days.

Despite this setback, AURY still retains notable gains of 74% and 70% over the 30-day and one-year periods, respectively. The market is now eagerly awaiting to ascertain whether the token’s support lines at $0.9681 and $0.9086 will be able to hinder any further price decline, or if they will succumb to the prevailing downtrend, putting a significant portion of its 2023 gains at risk.

The hack on the SyncSpace bridge led to a significant liquidity loss for Aurory’s AURY tokens on Solana. The team at Aurory promptly responded to the incident, disabling SyncSpace for maintenance and protecting user funds and NFTs. Although the hack impacted the price of AURY, the token still retains substantial gains over the long term. As SyncSpace investigates the exploit further and implements necessary security fixes, the market eagerly anticipates AURY’s recovery and its ability to maintain its upward trajectory in the future.

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