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AI agent launchpad Arata crypto has suffered a major crypto hack after the market maker wallet hit for 1M tokens, worth around $400k.
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 $400k, causing the disaster. However, many are perplexed and skeptical about this alleged hacker attack.
his funder wallet is directly connected to $ARATA deployer:
0xe6C4E3c2F0d339a3c42495fA69068D8f10F9B7B2The seller funder wallet received 1 m $ARATA tokens (10% supply) from deployer wallet on the day of listing.https://t.co/78GTQvEkd6
That 1m $ARATA was also sold out slowly… pic.twitter.com/rinl2VVyoh
— Nakasintos | 我们会成功的 (@nakasintos) December 6, 2024
ARATA’s Team Blames Hacker Attack On Market Maker Wallet
Well, it seems that this is what happened. 10% of the supply was sold in two transactions, and some insinuated that it was an inside job, with links to the developer’s wallet. Meanwhile, the Arata Team’s official statement is that the ecosystem and CEX wallet have experienced a security breach, during which a hacker sold many tokens.
They reassured me that all team wallets are secure and locked. None of the team’s tokens have been 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. Also, an investigation is ongoing to understand how the hacker managed to access the market maker (MM) wallet.
Many holders sold at a loss with what remained in their bags, while others decided to trust the team and, especially, the market’s unpredictability by buying the dip. Arata’s price reached an all-time low (ATL) of $880K market cap. Since then, the price has increased by over 175%.
Buying the $ARATA dip. Headed back to $1. Appears the exploiter is out.
True Wojak bounce. Was just at 20 million MC earlier. Now at 2m.
7 million coins in circulation. Should move quick. pic.twitter.com/uHjIJ9iDQ3
— The Oracle 👾🛡️ (@bonsaioracle) December 6, 2024
We previously mentioned Arata in our articles, following the AI agent trend that clearly dominates the current market focus. Although unfortunate, the incident reminds us that the crypto world is full of unforeseen events, and investors must always stay aware of the associated risks.
If Arata regains investor trust and the price rises sufficiently, we may witness an incredible comeback. In the crypto space, such comebacks are far from unprecedented.
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