Kuvi.ai, the platform pioneering Agentic Finance, has today released the results of an extensive investigation into the backdoor minting exploit that shook the Altura ecosystem prior to the transition of leadership.
Kuvi recently announced the acquisition of Altura, a Web3 infrastructure platform built to simplify blockchain game development. The acquisition underscored Kuvi’s mission to power the next evolution of Altura, which will utilize Kuvi’s experience developing agentic frameworks.
After assuming operational control of Altura, Kuvi’s team of analysts, legal advisors, and community stakeholders conducted a meticulous, weeks-long review to uncover how the exploit occurred, who was responsible, and what steps would restore confidence. The investigation involved on-chain forensics, code review, and direct interviews with individuals tied to the incident.
Findings confirm that a backdoor was embedded in Altura’s Ethereum bridging contract by a developer employed by the project at the time. The developer has admitted to placing it, stating that it was inadvertent. This vulnerability enabled the unauthorized minting of approximately 147 million ALU tokens (valued at about $1.45 million), which raised concerns about the project’s security and impacted its community.
“This was more than a technical exploit, it was a breach of trust,” said Jay Nasr, CTO of Kuvi.ai, and Lead on the investigation and report. “When we acquired Altura, we knew it was essential not just to fix the damage but to uncover exactly what happened. Alturians’ community deserves transparency, and our industry deserves accountability.”
The Kuvi-led team has taken the unusual step of filing a criminal report with the relevant Canadian authorities, despite the rarity of enforcement in cases like these. Nevertheless, the team is steadfast that any and all avenues of recovery and restitution should be explored.
Beyond forensics, Kuvi has already begun reshaping Altura’s future. The company has streamlined operations, cut wasteful vendor spend, renewed strategic partnerships with leaders such as Immutable, and begun pivoting the Altura brand toward a bold new, agentic direction.
“Altura is moving forward with clarity and purpose,” CEO of Kuvi.ai, Dylan Dewdney added. “We took control of this project as professionals, and the release of this report is proof that we will always face challenges head-on with transparency, rigor, and a commitment to building long-term value.”
The full report has been shared with the Altura community and forms the foundation of a live update and AMA hosted by the Kuvi/Altura leadership team.
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About Kuvi.ai
Kuvi.ai is an AI-driven crypto interface designed to make digital asset transactions as simple as typing a message or saying a few words, delivering text-to-trade functionality that removes the need to navigate multiple dApps, bridging solutions, or complex trading interfaces. Users can instruct Kuvi.ai to buy, sell, or swap tokens across blockchains, and Kuvi.ai does the rest.
Kuvi.ai is founded by Dylan Dewdney, a crypto OG active since 2011, along with Jay Nasr, and Maxim Sindall, bringing technical depth and go-to-market execution. Kuvi.ai’s momentum is powered by a heavyweight advisory and investor roster that includes Michael Terpin, founder of Transform Ventures and early advisor/investor to hundreds of crypto projects, including Ethereum and Tether; Dennis Liu (VirtualBacon), top-tier crypto educator with 400K+ followers; and Peter Vincer, advisor with institutional and U.S. policy access, joins as Advisor for Government Relations. For more information, please visit https://kuvi.ai.
Media contact: KuviAI@transformgroup.com
This press release was originally published on this site
