Aurory’s AURY-USDC Pool Hits Due to Major Liquidity Outflow
Key Takeaways
- Aurory’s AURY-USDC pool experienced an 80% liquidity loss due to a security breach on the Camelot DEX.
- The attack targets Aurory’s SyncSpace bridge in Arbitrum, which is expected to be immune to cross-SyncSpace hacking.
- The AURY token price fell following the incident due to the team’s efforts to recover the stolen tokens and conduct an audit.
On December 17, Aurory’s SyncSpace bridge fell victim to an attack. AURY-USDC pool loses 80% of liquidity.
Initial reports combined with on-chain data revealed an exploit targeting Aurory’s SyncSpace bridge on Camelot, Arbitrum’s native decentralized exchange (DEX). It occurred around 13:00 UTC..
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Due to this cyber attack The liquidity of the AURY-USDC pool plummeted from $1.5 million to $312,000..
Interestingly, in October 2022 The Orori team confidently declared. Hacking between SyncSpaces was virtually impossible. This is due to technical dependence on signing synchronized and unsynchronized assets.
The SyncSpace bridge serves as a critical component of the Aurory ecosystem and allows users to: Seamlessly transfer assets between on-chain and off-chain environments in a single transaction..
Basically, whenever gamers choose DeSync, they can move their in-game assets from the off-chain realm to the blockchain.
Aurory’s teammate Tim provided some insight into the situation through a discussion on X (formerly Twitter). He stated: An attacker stole tokens belonging to the team.It has since been liquidated.
Tim said: The team was actively repurchasing stolen tokens. While conducting a thorough investigation. A follow-up report will be released after a comprehensive audit.
At the time of writing, AURY token It is trading at $0.95. It has decreased by 33.37% in the last 24 hours..
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