Altcoin Price Plummets, Developers Announce Buyback to Cover Losses

The Astra Nova (RVV) team announced that they will be buying back the affected RVV tokens from the market following recent events.

The company stated, “In light of recent developments, Astra Nova will repurchase an amount of RVV equivalent to the affected tokens. This decision reflects our commitment to protecting token holders, stabilizing liquidity, and strengthening long-term trust in the RVV ecosystem. We will share the official timeline for the repurchase process soon.”

Chart showing the 60% drop in RVV price.

Astra Nova (RVV) recently announced that a third-party market maker account was hacked, and attackers took over the account and began selling assets. The team maintained that they had notified all exchange partners following the incident and that the project's smart contracts and infrastructure were fully secure and audited.

Astra Nova had stated that they were monitoring the fund movements together with on-chain security analysis institutions and that they would turn the matter over to law enforcement after the evidence was collected.

Officials claimed that the Astra Nova ecosystem remains robust and the process will be conducted in a transparent manner.