Nexera blockchain suffered a breach resulting in a wipeout of $1.8 Million, according to Cyvers, a blockchain security firm.
As per on-chain data, the exploiters hold 32.5 million NXRA tokens worth $1.23 Million.
NXRA lost 58.45% of its trading price in the past seven days and the YTD (year to date).
Cryptocurrencies, the strongest contender of the traditional currency, are facing severe threats of hack, scams, and frauds in 2024. WazirX, an Indian cryptocurrency exchange, recently lost over $230 Million in a breach.
Cyvers, a blockchain analysis and security firm, notes that Nexera blockchain suffered a hack resulting in a wipeout of $1.8 Million.
From its official X account, Nexera posted that it had identified an exploit and immediately halted services to limit losses.
AnnouncementThe team is investigating an exploit involving smart contracts containing NXRA tokens.While we are still finalizing our findings, there are already a couple of things that we can share:1⃣ The $NXRA token contract has already been paused. Trading is halted on…
— Nexera (@Nexera_Official) August 7, 2024
The post also notes that Nexera is closely discussing the exploit with the enforcement department and seeking legal aid. Following the hack, the blockchain has communicated to halt trading on its platform, and Kucoin and MEXC have already imposed the pause.
UpdateWe have already identified the exploit in the past hours. We have acted fast and managed to stop further damage.We have also taken the following steps: We are working with our partners at @HypernativeLabs to trace the source of the exploit and have begun discussions…
— Nexera (@Nexera_Official) August 7, 2024
According to on-chain data, the exploiters hold 32.5 million NXRA tokens worth $1.23 Million, and there are claims that the exploiter behind this exploit has a close connection with other recent breaches of the crypto market.
Nexera (NRXA) Token Price Analysis
According to CoinMarketCap data, the Nexera (NXRA) token lost 34.18% of its trading price, reaching $0.03969. NXRA’s trading volume ballooned 783.16%, making it the 556th most traded crypto in the market.
Source: Nexera (NRXA) price chart from TradingView
In 52 weeks, the NXRA token’s highest traded price was $0.2882, and its lowest recorded traded price was $0.01815.
NXRA lost 58.45% of its trading price in the past seven days, and in the YTD (year to date) frame, it believes that 77.94%. If the prices continue to fall, the nearest visible support is $0.059249.
As of writing, the NXRA token is trading below 20, 50, 100, and 200-day EMAs.
Major Crypto Hacks & Scams 2024
In 2024, the crypto market has lost $266 Million in 16 attacks. The breach of WazirX became the most prominent attack of July 2024.
On July 3, 2024, Bittensor, a decentralized artificial intelligence project, lost $8 Million in its native token, TAO. Also, in July, the liquidity layer and lending protocol of Rho Market depleted $7.6 million in stablecoins.
Hackers recently wiped out Ethereum (ETH) worth $9.33 Million from the Ronin Bridge.
Based on the Ethereum blockchain, the sidechain for Axie Infinity, Ronin Bridge, experienced theft of 3,996 Ether. The players primarily use this chain to move assets from the Ronin chain to the Ethereum network.
Crypto Market Alerts
For the past 24 hours, bulls have been dominating bears in the market. The broader cryptocurrency market has added 2.65%, reaching $2.01 Trillion.
As per CoinMarketCap data, the cryptocurrency market trading volume fell 33.96%, reaching $98.18 Billion.
Bitcoin’s (BTC) price reached $57,117; after adding 3.80%, it dominates 56.14% of the entire cryptocurrency market. BTC is the 2nd most traded crypto in the market, with an intraday trading volume of $44.43 Billion.