IMPORTANT UPDATE — READ BEFORE ANY FURTHER ACTIONS
On 07.03.2022, around 06:00 UTC, 38 423 AVXT Tokens were seized by a malicious person a.k.a. attacker, using a vulnerability in our backend system. Although the attacker liquidated 17 838 of his AVXT tokens in the pool on Pangolin, unfortunately he continues to keep 20 585 tokens in two different wallets. We are aware that this action continues to pose a risk to AVXT token price. To prevent such risks and re-add the stolen funds to reward pool, the following measures have been taken:
- Maximum Supply of AVXT Token is increased to 1 billion from 1 million.
All AVXT holder wallets (including in-game wallets, on-chain wallets and MEXC accounts while excluding attackers wallets) received 999 times of their AVXT Token amount.
- It’s wise to remember that all Avaxtars Marketplace prices that uses AVXT as price, will scale as x1000. In example, if a Gen2 Common Avaxtar’s price is 0.70 AVXT before the update, it will be 700 AVXT after the update. Another example, if PAGM is 20 AVXT before the update, it will be 20 000 AVXT after the update.
- Users that provide liquidity to AVXT pools will see their AVXT amounts as x1000 WHEN they withdraw their liquidity from the pools. Until then, old amounts may be displayed.
- ENXT rewards for participating in liquidity pools will be set with new ratios as AVXT amount /1000 so ENXT reward ratio will stay same.
- Even though a decrease in unit token price is expected, since users receive their share from token distribution their total value won’t be affected.
- As a result of the actions taken, the total value of AVXT Tokens in the wallets that belong to the attacker decreased by %999, and no wallet other than the attacker was adversely affected by this situation. Thus, the attacker is prevented from posing a risk on the AVXT Token price.
- Since the operation required great confidentiality and sensitivity, no prior notification was made. With this announcement, we are happy to share with you that the entire operation has been completed succesfully.
- From now on, further steps will be shared with community in detail.