Solana-based ecosystem Aurory loses 80% of pool’s liquidity

  crypto.news 4 h

Fraudsters managed to break through the security system of the gaming ecosystem based on Solana-Aurory.

As a result of the exploit, the platform lost 80% of the liquidity of the AURY-USDC pool of the decentralized crypto exchange Carmelot. The exploit targeted the SyncSpace Aurory bridge on Camelot’s native DEX Arbitrum, reducing the liquidity pool from approximately $1.5 million to $312,000.

The project team confirmed a breach of security systems. According to Aurory, scammers gained access to assets worth $600,000. The developers claim that user assets are safe. While the incident is being investigated, deposits and withdrawals have stopped.

Just a few hours ago, our team detected unusual activity on our marketplace. After quickly investigating, we discovered that a bad actor was able to exploit our marketplace’s buy endpoint, allowing them to increase their $AURY balance in SyncSpace. This allowed them to withdraw…

— Aurory (Play Now) (@AuroryProject) December 17, 2023

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Information about the incident also appeared on the microblogs of members of the crypto community.

Some tokens belonging to the team were stolen and instantly sold, we’ve been buying back the tokens as we’re investigating what happened

— Tim | (@droowgs) December 17, 2023

Following the incident, the AURY ecosystem’s native token dropped 17% to $1.17 in the last 24 hours, briefly fell to $1.13, but later recovered some of its value. However, despite the hack, the token has shown positive dynamics over the past month, increasing by 86% from the price of $0.60 one month ago.

Source: CoinMarketCap

SyncSpace acts as an Aurory bridge by allowing users to switch items between on-chain and off-chain with a single transaction. It allows assets earned in the game that are initially off-chain to move onto the blockchain when the user decides to desynchronize them.

According to TRM Labs, between January and mid-December 2023, hackers managed to steal about $1.7 billion in cryptocurrency assets from specialized organizations and users. About half as much was stolen in 2023 compared to the amount of cryptocurrency theft by hackers in 2022. Then the total loss of cryptocurrency assets from users and specialized services amounted to almost $4 billion.

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