Nexera protocol suffers $1.5M exploit, NXRA tokens stolen.
Axie Infinity attacked again, MEV bot drained $9.85M.
Smart contract vulnerabilities exposed, highlighting DeFi security concerns.
A security breach on the on-chain order book protocol Nexera has resulted in an estimated loss of $1.5 million, as reported by Cyvers Alerts. The exploit involved an unauthorized address gaining control of Nexera’s proxy contract, leading to the theft of all NXRA tokens.
Cyvers Alerts revealed that the attacker upgraded the contract and used the withdrawal management function to transfer all NXRA tokens to itself.
🚨ALERT🚨Hey @Nexera_Official,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.The… pic.twitter.com/Of4bAD7UiP
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) August 7, 2024
Consequently, the stolen tokens were sold for Ethereum (ETH), and part of the funds were bridged to the Binance (BNB) chain. The total estimated loss from this attack is approximately $1.5 million. This incident underscores critical vulnerabilities in smart contract security and highlights the need for improved measures to protect digital assets.
Nexera is presently trading at $0.036445, with a 24-hour volume of $3,241,347. The token has declined by 40.62% in the previous 24 hours. Its market capitalization is presently $29,191,315, with a circulating supply of 800,960,000 NXRA coins and a maximum supply of 850,000,000 coins.
In addition, Ethereum which was used in the sale of the stolen tokens is today trading at $2,511.20. The trading volume in the last 24 hours in Ethereum is $ 24,535,822,167 and the total market capitalization value of Ethereum is $ 301,995,123,666. Circulating supply of Ethereum is 120,259,133 ETH coins meaning that liquidity is high and there is a lot of trading happening in the market.
In the meantime, Binance Coin (BNB) that bought some of the stolen money, is valued at $493.09. BNB’s trading volume has been established to be $2,003,576,044 for every 24-hour trading period and its market capitalization at $71,959,362,748.
🚨ALERT🚨Our system has detected a suspicious transaction involving @AxieInfinity A #MEV bot has withdrawn around 4K $ETH $9.85M!It seems that team has paused the protocol at https://t.co/PuhMBjvoO3Funds currently parked at https://t.co/MAIQyrd0SVWant to keep your company… pic.twitter.com/VKniilP4uF
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) August 6, 2024
In a separate incident, Cyvers Alerts also reported a critical issue involving Axie Infinity. An MEV bot has withdrawn approximately 4,000 ETH, equivalent to $9.85 million, from the Ronin bridge. Consequently, the Axie Infinity team has paused the protocol to investigate the situation. The withdrawn funds are currently held at a specific address, as detailed in recent transactions on Etherscan.
The post Nexera Loses $1.5M, Axie Infinity Hit for $9.85M in Separate Exploits appeared first on Coin Edition.
