Don’t miss the @NexusMutualDAO community call tomorrow! @Hu | Nexus Mutual on Binance Square

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Don’t miss the @NexusMutualDAO community call tomorrow!
@HughKarp, @BraveDeFi and @s3mtur4n will be there to dig into all the latest Nexus Mutual updates and DeFi news 🚀
https://x.com/i/spaces/1gqxvNMMVZRxB

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Hack Recap: Ethena Domain Hack On September 18th, @ethena_labs’ domain registrar account was compromised, allowing hackers to hijack Ethena’s UI and prompt users to approve a malicious transaction request. @PocketUniverseZ, a monitoring service that looks out for scam transactions, detected the malicious requests and warned their users against signing the transactions. Luckily, Pocket Universe’s detection service prevented their users from losing funds to Ethena’s compromised frontend. Pocket Universe takes security a step further by covering their users with Transaction Cover from @OpenCover, powered by @NexusMutual. This means if Pocket Universe doesn’t detect a malicious transaction and it leads to their users losing funds, they can easily be reimbursed. DeFi dApps are constantly being probed for vulnerabilities, and some weak points aren’t even smart contract related. The only way to protect against these growing threats is for wallet providers to adopt third party coverage such as OpenCover's Transaction Cover, powered by Nexus Mutual. You’re covered, with Nexus Mutual

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🐢 This Week in DeFi 🐢 The Federal Reserve cutting rates helped bring crypto bulls back to life, and this translated to another busy week in DeFi 🚀

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The Cost of a Protocol Hack At Nexus Mutual, we protect individuals and funds against smart contract and economic risks, but did you know that we also have options for protocol teams? With Native Protocol Cover, a team can provide their users with an embedded base layer of protection. This way if a hack or other covered risk impacts the protocol, the community would be reimbursed in the time it takes to write a post mortem report. Native Protocol Cover is a bargain when you consider the real cost of a hack. @MitchellAmador from @immunefi put together a great article that digs into the true impact (linked below) He found that on average, a hack will create $16M in direct losses, erase 50% of a protocol's market cap, and force a team to face a 6+ month recovery. The unique challenges of open and immutable smart contract code, combined with increasing TVL in DeFi, means these threats aren’t going anywhere. Hacks happen. If a protocol can be exploited, eventually it will be. World-class security is a requirement for today’s leading protocols, but the best way to minimize risk due to smart contract hacks is through 3rd party coverage. Nexus Mutual is the only provider in the space with the experience and underwriting capital to work directly with protocol teams. If your team is ready to protect against the worst case scenario, get in touch with us today!

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New listing alert 🚨 Get Protocol Cover for 30+ markets on @eulerfinance v2, such as EulerDAO Base markets, Re7 markets & more! Staking pool managers have opened up $2M worth of capacity to secure crypto deposits Lend, borrow & build on Euler v2 with protection from Nexus 🤝

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Partner Highlight: @ether_fi @ether_fi is leading the way for ETH liquid restaking As our integration partner, they offer Nexus cover options seamlessly in their platform, helping people protect their assets The @NexusMutualDAO even voted to restake over 1500 ETH with them!

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