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.