Key Takeaways

What caused Astra Nova to crash 65%?

18 wallets linked to hackers dumped 890 million RVV tokens worth $10.66 million following the Binance Alpha listing.

Can RVV recover from this crash?

Recovery depends on security fixes and the team’s token buyback program.

Astra Nova [RVV] surged to a new all-time high of $0.03 after its listing on Binance Alpha, before recording a sharp drop.

In fact, as of this writing, Astra Nova was trading at $0.0105, marking a 65.5% decline in 24 hours. At the same time, its market cap dropped 65%, to $10 million, reflecting massive capital outflow. 

But what triggered this drop?

18 Astra Nova wallets dump 890 million RVV

Surprisingly, after getting listed on Binance Alpha, some Astra Nova investors made a coordinated exit from the market. 

According to Lookonchain, after listing on Binance, 18 wallets abnormally dumped 890 million RVV worth $10.66 million. 

Some of these tokens are worth $8.4 million to Gate and Kucoin, indicating a coordinated market exit. 

While these transfers have resulted in insider trader exit, the Astra Nova Team has accused a malicious attack. 

A malicious attack

According to the Astra Nova team, after the launch, the team’s MM account (third party) was hacked, and hackers gained control. 

These hackers began selling assets from 18 wallets linked to the account. Despite the hacking, the team remained defiant, positing that the chains, smart contracts and infrastructure remain

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Author: Gladys Makena