Solana Suffers Yet Another Hack As Gaming Platform Gets Targeted

Aurory gaming, a Solana-based platform, has experienced a significant security breach resulting in an 80% liquidity loss in the AURY-USDC pool. Acting swiftly, the team disabled SyncSpace to safeguard funds and stabilize the market.

Damage control

The security incident involved the SyncSpace Aurory Bridge on the Camelot DEX known as Arbitrum. The hacker exploited this bridge, enabling the withdrawal of approximately 600,000 AURY tokens to Arbitrum, which were subsequently sold. In response, SyncSpace was promptly deactivated to prevent further complications and protect user funds and NFTs.

Notably, the pilfered tokens originated via the team rather than user funds. The team took immediate measures to stabilize the market, repurchasing tokens and planning security enhancements. Following the breach, AURY declined to $1.17, but it later recovered some of its value. The team continues to repurchase tokens as they conduct an ongoing investigation.

Fueled by hype and trends

The breach has sparked discussions about decentralized ecosystem security. The Aurory team assures a comprehensive analysis post-issue resolution, and SyncSpace is anticipated to resume operations soon, accompanied by plans for an upcoming user event.

Elsewhere, people all over the world are clamouring to get their hands on the new Solana Saga Web3 phone. Most are not actually interested in the phone itself, but rather the free 30 million BONK tokens which come with it. One person even reportedly paid a whopping $5,000 for the device.

BONK is a meme coin, which means it lacks a solid foundation or tangible assets, making it susceptible to sudden and drastic price fluctuations driven primarily by social media trends rather than fundamental value. The hype surrounding meme coins like BONK, DOGE, SHIB, and more can often lead to rapid and unpredictable market movements, exposing investors to the potential for significant financial losses.