Astra Nova RVV Hack Triggers $10M Sell-Off and Token Buyback
Astra Nova, a crypto-AI platform, suffered a market maker hack that dumped 860 million RVV tokens (8.6% of supply) for about $10.3 million in USDT. The sell-off crashed RVV from $0.028 to $0.007 before stabilizing near $0.014. Astra Nova confirmed its core smart contracts were secure. The team cut ties with the compromised market maker and engaged blockchain forensics and law enforcement to trace stolen funds. To restore liquidity and investor confidence, it launched an RVV token buyback for unaffected tokens and is offering a 10% bounty for returned RVV sent to an authorized address. After closing a $48.3 million funding round, Astra Nova reaffirmed that its roadmap and development plans remain on track, underscoring its commitment to long-term stability.
Bearish
The hack and subsequent dump of 860 million RVV tokens drove a 75% price collapse, reflecting strong short-term bearish pressure. Although the token buyback, legal measures, and intact smart contracts could shore up confidence and support price recovery, ongoing security concerns and the large token overhang may keep sentiment subdued. In the long term, successful fund recovery and roadmap execution might stabilize RVV, but near-term risk remains elevated after this breach.