Crypto -prize rallies come and go, but some things never change – hacks. The last victim? Nemo, a yield protocol based on the Sui Blockchain.
The protocol fell victim to an exploit of $ 2.4 million on Monday and underlined persistent vulnerabilities in Decentralized Finance (Defi) despite the growing institutional acceptance of digital assets.
The malignant entity Stal USDC, the Dollar-Pegged Stablecoin published by Circle Internet (CRCL), which bridged the stolen tokens from Arbitrum to Ethereum, Blockchain Security and Data Analytics Company Peckshield on X.
NEMO is a Defi revenue optimization platform built on the Sui Blockchain. It allows users to token their yield by splitting out -out assets in principle tokens (PT) and tokens (YT) yield and has them exchange, cover or speculate about future yields.
After the hack, the total value in the NEMO revenue trade to $ 1.53 million of more than $ 6 million, according to data source Defillama.
TVL in NEMO yield trade. (Defillama)
