Astra Nova RVV Token Plunges 75% Amid Alleged Hack
On October 18, Astra Nova launched its RVV token on Binance Alpha after a 520× oversubscribed presale that raised 90,612 BNB. Within hours, the RVV token plunged 75%, crashing from $0.03 to $0.007 on heavy chain-linked sell-offs.
Binance delisted RVV token, citing technical incompatibility and security risks. Astra Nova blamed an alleged hack of a third-party market maker that liquidated 8.6 billion RVV. The team offered an 89 million RVV buyback and a 10% bounty for forensic assistance.
Investor trust fell after Astra Nova slashed its airdrop to 15,000 addresses and changed vesting to a 7-month cliff plus 12-month linear unlock. Analysts question why hackers would convert tokens to traceable USDT.
Traders should monitor RVV token volatility, on-chain flows and vesting schedules. The event underscores the need for transparent tokenomics and secure custody in new token launches.
Bearish
The RVV token crash and delisting signal significant selling pressure and negative sentiment. In the short term, heavy chain-linked sell-offs and futures liquidations may keep driving the RVV token price lower. Over the long term, altered tokenomics, vesting changes and security concerns undermine investor confidence, limiting recovery prospects. This results in a bearish outlook for RVV.