Nexera Protocol Faces $1.5 Million Security Breach, NXRA Token Drops Over 40%

Nexera, a DeFi protocol, recently experienced a significant security breach that resulted in the theft of $1.5 million worth of NXRA tokens. The incident, first reported by blockchain security firm Cyvers on August 7, involved an unidentified address taking control of Nexera’s proxy contract and accessing administrative functions to withdraw all available NXRA tokens.

Following the breach, the value of NXRA plummeted by over 40%, hitting an all-time low before rebounding by 76.5%. This incident underscores ongoing security challenges in the DeFi space, yet market resilience remains evident.