Aurory (AURY), a blockchain-based tactical Japanese role-playing game built on Solana (SOL), recently experienced a significant liquidity loss in its Camelot’s AURY-USDC pool. This incident was a result of a hack on the SyncSpace bridge, leading to the unauthorized withdrawal and subsequent market sale of approximately 600,000 AURY tokens on the Arbitrum (ARB) network.
In an official statement released on December 17, Aurory’s team disclosed the details of the incident. They detected unusual activity on their marketplace and immediately launched an investigation. The investigation revealed that a malicious actor had exploited the marketplace’s buy endpoint. This exploit allowed the attacker to inflate their AURY balance in SyncSpace, enabling them to withdraw around 600,000 tokens to the Arbitrum network. The attacker then liquidated the stolen amount by selling it in the market.
To protect user funds, SyncSpace was promptly disabled for maintenance, temporarily suspending deposits and withdrawals. The statement assured users that no 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, facilitating withdrawals for accounts that had not previously deposited AURY.
The Aurory team emphasized that the exploit is no longer ongoing, as SyncSpace remains offline for maintenance. This means that there is currently no risk of further exploits. The attacker has also exhausted their AURY supply and no longer possesses any tokens to sell. SyncSpace plans to investigate the incident further to understand how the exploit went undetected, despite the previous expert audit.
The team plans to release a comprehensive post-mortem report once they have implemented the necessary fixes and concluded their investigation. They expect SyncSpace to be back online in the coming days, allowing users to resume normal operations.
Before the hack, Aurory’s AURY token experienced a significant upward trend, reaching a yearly high of $1.9008 on December 12. However, following the exploit, the price of AURY has retraced to $1.0868, marking a decline of 23.5% over the past 24 hours and 36.5% over the past seven days.
Despite this setback, AURY still maintains substantial gains of 74% and 70% over the 30-day and one-year periods, respectively. Market participants are closely watching the token’s support lines at $0.9681 and $0.9086 to determine whether they can halt the potential continuation of the price drop or if they will succumb to the prevailing downtrend, risking a significant portion of the token’s 2023 gains.
The recent hack on Aurory’s SyncSpace bridge leading to the unauthorized withdrawal and sale of AURY tokens highlights the vulnerability of blockchain-based platforms. While the team promptly responded to the incident and ensured the safety of user funds, the price of AURY has experienced a significant decline. Moving forward, it will be crucial for Aurory to implement robust security measures and learn from this incident to prevent future exploits. The timely release of a post-mortem report will provide transparency and help rebuild trust within the community. As with any investment, it is essential for individuals to conduct thorough research and understand the risks involved before making any investment decisions.