Attacker Steals $50 Million in NES, Only Profits $60,000
The attacker exploited a vulnerability in the Cosmos EVM shared module to steal $50 million worth of NES tokens, but ultimately only made a profit of about $60,000. Cosmos Labs had previously reported a security flaw in its shared Cosmos EVM software, affecting multiple chains built on that module, including Nesa. The main attacker, with an address starting with 0x9AE7, had previously spent $250,000 to purchase NES and cross-chain it to Nesa Chain. They then exploited the vulnerability to inflate their account balance by 200 times, transferring $50 million in NES back to Ethereum, with the initial funds coming from Monero. The attacker dispersed the tokens across multiple wallet addresses, exchanged NES for ETH on a DEX, and then deposited the proceeds into a centralized exchange. Due to the rapid withdrawal of funds from the liquidity pool, most of the attacker's exchange transactions faced severe slippage, resulting in an actual expenditure of $255,000 to initiate the attack, while only cashing out $315,000, yielding a net profit of about $60,000. Bubblemaps noted that although another Cosmos EVM chain had suffered a similar attack of $1.4 million the day before, the differences in funding sources and operational methods suggest that the two incidents may have originated from different attackers. The report mentioned that the price of NES tokens plummeted by 90% at one point but has since rebounded significantly, with the team believing that the recovery is mainly due to arbitrage activities resulting from price mismatches between DEX and CEX after the attack.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

NESA Shifts from Opposition to Neutral on CLARITY Act, Clearing a Major Obstacle for Voting

Cosmos Labs Faces Criticism Over Disclosure Bug Issue, Leading to Recommendations for EVM Chains to Halt Operations

Cosmos EVM Module Faces Security Incident, Multiple Chains Affected

Zamanat Targets GCC’s $250 Billion SME Financing Gap With Up to $100 Million Tokenized Private Credit Fund

CoinFactory Founder Rasoul Rezvani Unveils the Vision Behind RZ Oasis

What You Thought Was a Safe Compliance Check Actually Handed Your Assets to Hackers

When Bitcoin's Unsolved Mystery Meets a New Meme

DEEPCOIN Completes System Penetration Testing with HackenProof to Strengthen Asset Security

In the 17th Year of the Crypto Era, Where is Solana's Path to Survival?

Oil Crisis: 5 Reasons Why the Surge Won't Stop

SEC Reveals Progress on Key Measures to Drive Quality in Thailand's Investment Market

Real Review of World.xyz: Millisecond Trading and Betting Against Market Makers

Trump's Poll Numbers Decline, Bond Market Out of Control: Is Walsh's Independent Space Opening Up?

ESMA Warns of Growing Links Between Crypto and Finance

How to Calculate Bitcoin Profit for Beginners Easily - Fintech World
![[Full Text] Solana Foundation: "Korean STOs Should Start Within Regulations and Expand Globally"](/public-static/10_5acc261b9b.png?format=avif)
[Full Text] Solana Foundation: "Korean STOs Should Start Within Regulations and Expand Globally"

Can Bitcoin Be Bought with Rp50,000? Here's How - Fintech World

Bab el-Mandeb: Oil, Bitcoin, or... what are the consequences for the economy?

Anthropic: The Report That Implicates Claude, Between Missiles, Espionage in Mali, and Chinese Pillaging

Financial Services Agency Reports 1,961 Cases of Fraudulent Investment Solicitation from April to June, Over 80% Resulted in Losses

724 Eggs Cracked, 11,348 Traders Joined: WEEX TradFi Lucky Egg Campaign Hits 10M+ USDT in Trading Volume

JPMorgan Bullish on Meta: Muse, Model API, and Subscriptions Support $820 Target Price

Pump.fun Analysis: Is It Severely Undervalued, and What Should Its Target Price Be?

Bitget Wallet joins BCCC to take part in Japan’s self custody debate

Blockstream Refuses Ransom to Liquid Attackers; 4,000 Bitcoins Stolen, Over 80% Already Returned

Kalshi plans 24/7 Tesla, Apple and Nvidia perps

Russia to require tax IDs for opening crypto depository accounts

How to Raise iPhone Prices Without Hurting Sales? JPMorgan Analyzes Apple's 'Installment Strategy'

Robinhood is Trading Fruit Flies, Solana is Trading Cats







