Nexera lost $1.8 million in a massive cyberattack, confirmed by crypto security firm Cyvers, which led Nexera to announce that it was shutting down its smart contracts. The company is working to stop trading with centralized exchanges.

Following the attack, the NXRA token lost 40% of its value to $0.036. This huge loss of value has caused concern among investors and Nexera users. Nexera is in contact with centralized exchanges in an attempt to halt trading.

Blockchain analyst ZachXBT noted on Telegram that the attacker has previously been linked to various private key hacks, including platforms like SpaceCatch, Concentric Finance, OKX DEX, Serenity Shield, and Reach. The attacker reportedly currently has 32.5 million NXRA tokens and $555,000 worth of USDT.

This incident has once again highlighted how serious security vulnerabilities are in the world of Blockchain and cryptocurrencies. Nexera was a company that offered a tokenization-focused Blockchain protocol, formerly known as AllianceBlock. However, such security breaches lead to a crisis of trust among users and investors. Crypto security firms are constantly working to prevent such attacks.

Unfortunately, such attacks are common in the cryptocurrency world. According to a Crystal Intelligence report, a total of $19 billion worth of cryptocurrency has been hacked since 2011. $67 million was lost in February alone. Ari Redbord from TRM Labs emphasized that such incidents should be taken more seriously. In addition, legal experts state that hacks related to North Korea are a major problem.

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