860 Million RVV Tokens Sold On-Chain Amid Disputed Theft Claim

Analysts question the legitimacy of Astra Nova’s reported hack after 860 million RVV tokens were sold and proceeds were moved to centralized exchanges in USDT, a freezeable asset.

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Summary

A total of 860 million RVV tokens, equivalent to 8.6% of total supply, were transferred from Astra Nova’s minting contract and sold on-chain, generating approximately 10.288 million USDT. Of this amount, 8.226 million USDT were sent to Gate and KuCoin, while 2.041 million remain in wallet address 0x643. The project team attributed the incident to a hacker attack, but analysts expressed skepticism, noting the atypical choice to convert funds into freezeable USDT and transfer them directly to centralized exchanges.

Terms & Concepts
  • USDT: Tether, a popular stablecoin pegged to the US dollar, often used for value transfer and liquidity in crypto markets.
  • Minting Contract: A blockchain smart contract responsible for creating and issuing new tokens in a cryptocurrency project.
  • Centralized Exchange (CEX): A cryptocurrency trading platform controlled by a central authority where users can trade assets through custodial accounts.