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Aurory's AURY-USDC Pool Hit by Major Liquidity Drain on Camelot DEX

Key Takeaways

  • Aurory's AURY-USDC pool experiences an 80% liquidity loss due to a security breach on Camelot DEX;
  • The attack targets Aurory's SyncSpace bridge on Arbitrum, which was supposed to be immune to cross-SyncSpace hacks;
  • AURY token price declined following the incident, with team efforts to recover stolen tokens and conduct an audit.
Aurory's AURY-USDC Pool Hit by Major Liquidity Drain on Camelot DEX

On December 17th, Aurory's SyncSpace bridge fell victim to an attack, resulting in a significant 80% loss of liquidity for the AURY-USDC pool.

Initial reports, coupled with on-chain data, shed light that the exploit that targeted Aurory's SyncSpace bridge on Arbitrum's native decentralized exchange (DEX), Camelot, happened around 13:00 UTC.

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This cyberattack resulted in the liquidity of the AURY-USDC pool plummeting from a robust $1.5 million to a mere $312,000.

Interestingly, in October 2022, Aurory's team confidently declared that a cross-SyncSpace hack was virtually impossible due to the technology's reliance on signatures for Syncing and DeSyncing assets.

The SyncSpace bridge serves as a crucial component of Aurory's ecosystem, allowing users to seamlessly transfer assets between on-chain and off-chain environments with a single transaction.

It essentially empowers gamers to move in-game assets from the off-chain realm to the blockchain whenever they choose to DeSync them.

Aurory's team member Tim provided insights on the situation in a discussion on X (previously Twitter). He revealed that the attacker had stolen tokens belonging to the team, which were subsequently liquidated.

Tim further stated that the team was actively repurchasing the stolen tokens while conducting a thorough investigation. A post-mortem report is expected to be released following a comprehensive audit.

As of writing, the AURY token is trading at $0.95, marking a 33.37% decrease in the past 24 hours.

Ain N., Lead Content Researcher
Ain is the Lead Content Researcher. Her vast experience with crypto and blockchain tech-related content allows her to identify the key pieces of information that should be presented to the learner, and ensure the validity of the gathered data.
With a degree in New Media studies, she has developed an extensive list of techniques to educate people via new, research-proven study models based on deduction and long-term human memory.
Ain approaches everything with unequivocal attention to detail. Her main goals are to erase the ambiguity surrounding many Web3 concepts, and to guide content writers in presenting difficult crypto-related concepts in an easy-to-understand manner.
Even though content strategy is her main passion, Ain also enjoys reading high-fantasy books and watching superhero movies.

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