Decentralized battle game Illuvium still highly anticipated despite attack

On Dec. 31, Illuvium’s authoritative Discord transmission got phished erstwhile attackers directed users to a website claiming to beryllium Illuvium’s NFT platform, causing astir $150,000 successful losses.

One week later, the Illuvium squad discovered a vulnerability successful Illuvium’s staking contracts, which has allowed attackers to mint an unlimited magnitude of $sILV.

After these attacks, Illuvium’s trading measurement dropped significantly, taking it from #7 successful the measurement ranking to #32.

Will Illuvium, whose liquidity mining and locked collateral features made it 1 of the hottest gaming projects (without immoderate gameplay adjacent unrecorded yet), beryllium capable to regain its trading volume?

And, volition the attacks impact perceptions of the task arsenic it prepares to motorboat a beta of its game?

There’s not adjacent a crippled yet. Why is Illuvium truthful popular?

High-profile Team

Illuvium is simply a decentralized NFT postulation and RPG combat crippled built connected Ethereum. The crippled is acceptable connected a mysterious alien satellite that tin beryllium explored and players tin seizure creatures called Illuvials.

Illuvium’s founding squad includes Kieran and Aaron Warwick, brothers of Synthetix laminitis Kain Warwick. They person much than 7 years of acquisition successful cryptocurrency projects, and person undertaken extended probe to marque this crippled a success.

Screenshot Source – illuvium 3D Animations

Innovative Gameplay

Illuvium includes galore highly anticipated elements that person yet to beryllium executed successfully successful the play-to-earn space. For example:

• Adventuring: Players tin research the mysterious alien world, physique teams, and seizure Illuvials.
• Battle arenas: Illuvials oregon players tin combat each different successful automatic battles to level up their skills, and players tin besides combat against each other, configuring their weapons and armor to summation their chances of winning. Other players tin spot bets connected the matches.

Reward Tokens with Appreciation Potential

There are 2 types of tokens successful the game: ILV and sILV.

ILV is the autochthonal token of Illuvium. sILV is simply a synthetic ILV token utilized arsenic in-game currency for capturing Illuvials. sILV cannot beryllium utilized for inter-player transactions, specified arsenic buying oregon selling Illuvials.

According to Footprint Analytics, ILV’s coin terms has been climbing since August 2021, erstwhile liquidity mining and different features were opened, peaking astatine $1,853 connected Nov. 30.

However, the delayed motorboat of the Illuvium nationalist beta prompted a precipitous driblet successful ILV, which was compounded by the theft of funds by attackers exploiting a vulnerability that dropped the terms of ILV to $568, and trading volumes were arsenic bleak.

Footprint Analytics – Token ILV Price vs Trading Volume

Some Challenges for Illuvium

According to Footprint Analytics, Illuvium was successful GameFi’s Top 7 games with $1.43 cardinal successful trading measurement arsenic of Dec. 31, 2nd lone to Metaverse Miner.

Footprint Analytics – Top 8 GameFi & Affiliation Chains(Dec 31,2021)

Footprint Analytics – Daily Volume by Illuvium

Illuvium’s squad responded to the onslaught by promptly revealing and patching the vulnerability. sILV casting has been suspended by Illuvium’s squad to compensate users who mislaid money. In addition, assorted measures were taken to supply information for the protocol. These include:

• A broad reappraisal of Discord servers, with recognition of inactive users and atrocious actors to forestall them from sending fraudulent messages.
• Removing webhooks support for each users but ace administrators.
• Enhancing the information of applications, focusing connected bug fixes and vulnerabilities, improving workflow and different features.
• Abandoning sILV. The squad volition mint a caller sILV token (tentatively called “sILV V2”) to regenerate the archetypal sILV V1 token, which volition beryllium implemented successful the Staking V2 contract.

Summary

Even though Illuvium has not yet gone alive, its well-known team, innovative gameplay, and charismatic tokenomics exemplary has attracted attraction not lone from players but attackers.

Luckily, Illuvium’s squad acted rapidly to regain spot and hole issues. The attacks person highlighted the value of providing users with information alternatively than conscionable performance, thing that volition beryllium progressively important arsenic P2E gaming goes mainstream.

Feb. 2022, Vincy — Data Source: Footprint Analytics – Illuvium Dashboard

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