Nimiq Attacked on Polygon, Losses Approximately $504,000

Nimiq's swap contract was attacked on September 16 on Polygon, resulting in losses of approximately $504,000. Nimiq has suspended all stablecoin transactions using gas fee abstraction in Nimiq Pay and Nimiq Wallet and is investigating security issues related to OpenGSN. The attacker exploited a vulnerability in the contract's execute() function, which did not verify user signatures, by forging open() requests from the liquidity wallet, opening multiple HTLCs and withdrawing all USDC, USDT0, and USDC.e from them, with the assets ultimately consolidated into USDC.

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