DeFi protocol Nexera hacked for $1.5 million via smart contract exploit
Nexera protocol has been exploited for $1.5 million worth of digital assets in another smart contract security incident.
Nexera, a decentralized finance (DeFi) protocol aiming to bridge DeFi with traditional finance, was hacked for $1.5 million worth of Nexera (NXRA) tokens, according to an Aug. 7 X post by Cyvers, that wrote :
“Our system has detected a suspicious transaction involving your proxy contract. An address took ownership of your proxy contract and upgraded it. Shortly after, the address used the withdraw admin function to transfer all the $NXRA tokens.”Nexera exploit. Source: Cyvers
While the $1.5 million counts as a relatively small incident, it comes only a d ay after Ronin Network was exploited for $9.8 million worth of Ether ( ETH ) tokens, by a suspected white hat hacker, who returned all the lost funds within a few hours.
Related: $510B crypto sell-off wipes 2024 gains for top 50 coins
This is a developing story, and further information will be added as it becomes available.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin is up 6% since the Fed rate cut. What’s next?
Despite short-term boost, Bybit executive warns investors of “potential challenges posed by economic uncertainty and market fluctuations”
Eclipse targets October to launch ‘Solana on Ethereum’ L2
Mastercard and Safaricom team up to improve cross-border payments
FET token surges 75% in a month as AI narratives drive growth