Greetings, our valued Arcona community!
At Arcona, we've always strived for open dialogue and transparency in our communication with you. Your trust is our most valuable asset.
That's why we believe it's our duty to honestly share information about a recent incident the team encountered, as well as the decisive steps we've taken to enhance security and our plans for the future, centered around our exciting new project, ARS (Step To Mars).
What Happened: The Security Incident
We detected an unauthorized transaction involving one of the team's operational wallets, which was used to manage a portion of the project's liquidity in the ARCONA/ETH pool on the Uniswap platform.
As a result of this incident, malicious actors managed to withdraw 106 UNI-V2 LP tokens.
We understand you may have questions about the security measures in place. Although the wallet was protected by two-factor authentication (2FA) at the application level, this unfortunately did not prevent the incident. We are continuing to investigate all circumstances surrounding this event.
Our Immediate Actions: Prioritizing Security
The security of the project's and our users' funds is our absolute priority. Immediately upon discovering the incident, we took several decisive and immediate actions:
Full Security Audit: We conducted a thorough security audit of all wallets and addresses used by the Arcona team for asset storage and operations.
Asset Migration: All remaining team assets were immediately transferred to new, highly secure wallets employing best security practices, such as hardware storage (Ledger/Trezor) and/or multi-signature (multisig) solutions.
Approval Revocation: We systematically reviewed and revoked all active token approvals for smart contract interactions across all team wallets to eliminate similar attack vectors in the future.
Strengthening Internal Protocols: We reviewed and strengthened our internal security protocols regarding key management, wallet access, and transaction procedures.
We want to assure you with full confidence: all other Arcona team assets are completely secure under enhanced protection.
The Path Forward: Recovery and Strengthening with ARS (Step To Mars)
We understand that the loss of even a portion of liquidity is concerning and can raise questions about trading stability.
The Arcona team is committed not only to addressing the situation but also to significantly strengthening the ARCONA token's liquidity on decentralized platforms going forward.
And we are excited to share our plan with you! A key role in this will be played by our ambitious new project – ARS (Step To Mars), which we are preparing to launch.
We have made a strategic decision: a significant portion of the funds raised during the upcoming public sale of ARS tokens will be specifically allocated to replenish and strengthen the ARCONA liquidity pools on Uniswap and Pancakeswap.
Why did we choose this path?
New Capital: This allows us to restore and increase ARCONA's liquidity using fresh capital without placing additional strain on current reserves.
Growth Synergy: We leverage the energy and interest surrounding the ARS launch to strengthen the entire Arcona ecosystem, including our core metaverse token.
Long-Term Vision: This demonstrates our commitment to the long-term development and sustainability of the entire Arcona project.
Future Synergy: How ARCONA and ARS Will Work Together
ARS (Step To Mars) is more than just a new token. It's an expansion of the Arcona universe, opening new horizons for our users. We are actively developing mechanisms to ensure close ties and mutual benefits for holders of both tokens.
ARCONA holders can expect special advantages within the ARS ecosystem. While details are still being finalized, this may include:
Priority access or bonuses when participating in ARS sales/activities.
Exclusive opportunities for Arcona digital land owners within the Step To Mars project.
Special utilities and features of the ARS token for loyal members of the ARCONA community.
We will certainly share all the details about the ARCONA and ARS synergy in our upcoming announcements.
Conclusion: Learning, Strengthening, Moving Forward
We sincerely regret the incident and thank you for your patience, understanding, and unwavering support, which is our main motivation. We view this as a painful but important lesson that has already led to significant enhancements in our security measures.
The launch of ARS (Step To Mars) opens a new chapter for Arcona, and we are confident that together, we can not only overcome the current challenges but also reach new heights.
Please follow our official channels for further updates on the incident investigation and details about the upcoming ARS token sale.
We also plan to host an AMA (Ask Me Anything) session in the near future to answer all your questions directly.
Together – towards new heights!
With respect and faith in the future, The Arcona Team
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