AI agent Arata Crypto’s Launchpad suffered a major crypto hack after the market maker’s wallet reached 1 million tokens, worth around $400,000.
ARATA, an AI Agent LaunchPad on Ethereum, has left everyone speechless, and not for the better. Last night the price of ARATA suddenly collapsed, leaving holders speechless.
According to the Team, someone hacked the market maker’s wallet and sold 1 million tokens, worth around $400,000, causing the disaster. However, many are perplexed and skeptical about this alleged hacker attack.
its financier portfolio is directly linked $ARATA distributor:
0xe6C4E3c2F0d339a3c42495fA69068D8f10F9B7B2The seller’s financier’s wallet received 1 million $ARATA token (10% supply) from the distribution wallet on the day of listing.https://t.co/78GTQvEkd6
That 1m $ARATA it slowly sold out… pic.twitter.com/rinl2VVyoh
— Nakasintos | 我们会成功的 (@nakasintos) December 6, 2024
The ARATA team blames the attack on Market Maker wallet by hackers
(ARATAUSDT)
Well, it appears that this is what happened. 10% of the supply was sold in two transactions, and some have insinuated that this was an inside job, with links to the developer’s wallet. Meanwhile, the official statement from the Arata Team is that the CEX ecosystem and wallet suffered a security breach, during which a hacker sold many tokens.
They reassured me that all the team’s wallets are safe and locked. None of the team’s tokens were affected and they are 100% committed to the project. In response to the breach and to save ARATA, they will initiate a token buyback from the open market. Furthermore, an investigation is underway to understand how the hacker managed to access the market maker’s (MM) wallet.
Many owners sold at a loss with what was left in their purses, while others decided to trust in the team and, above all, in the unpredictability of the market by buying on the downturn. Arata price reached an all-time low (ATL) of a market capitalization of $880,000. Since then, the price has increased by more than 175%.
By purchasing the $ARATA immersion. Back to $1. Looks like the exploiter is out.
The real Wojak rebound. Previously it was just at 20 million MC. Now at 2m.
7 million coins in circulation. It should move quickly. pic.twitter.com/uHjIJ9iDQ3
— The Oracle
(@bonsaioracle) December 6, 2024
We have already mentioned Arata in our articles, following the trend of AI agents that clearly dominates the current market focus. While unfortunate, the incident reminds us that the world of cryptocurrencies is full of unexpected events and that investors should always be aware of the associated risks.
If Arata regains investor confidence and the price rises enough, we could see an incredible return. In the cryptocurrency industry, such returns are far from unprecedented.
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The post ARATA The AI Agent Launchpad in Big Trouble: Hacker Attack Sends Chart -90% Overnight appeared first on 99Bitcoins.