$2.4 Million Siphoned in Nemo Protocol Hack on Sui Blockchain
The Nemo Protocol platform, built on the Sui blockchain and operating within the DeFi sector, has fallen victim to a hacker attack. Malicious actors siphoned off approximately $2.4 million in stablecoins.
The incident was first reported by the research firm PeckShield, which revealed that the stolen USDC tokens were drained from the Arbitrum network and then bridged into Ethereum.
The Nemo team confirmed the breach early Monday morning at 3:27 a.m. EST, posting an announcement on Telegram. Just hours earlier, developers had notified users of scheduled maintenance set to take place on Monday and Tuesday.
In its official statement, the team specified that the attack had impacted the Market Pool, prompting a suspension of all smart contract operations to mitigate further risks.
“A security incident has occurred affecting one of the pools. We have initiated an investigation and temporarily suspended all smart contract activity. We will share more details as soon as they become available,” the developers stated.
The team emphasized that assets stored in vaults remained unaffected, though the precise cause of the exploit has yet to be determined.
According to The Block, requests for additional commentary have been sent to Nemo representatives, but no further details have been provided so far.
Nemo Protocol presents itself as an infrastructure solution for yield management and a yield-trading platform built on Sui. The service focuses on the tokenization of returns, enabling users to trade, hedge, or leverage yield with greater efficiency.
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