Attacker Steals $50 Million in NES, Only Profits $60,000
The attacker exploited a vulnerability in the Cosmos EVM shared module to steal $50 million worth of NES tokens, but ultimately only made a profit of about $60,000. Cosmos Labs had previously reported a security flaw in its shared Cosmos EVM software, affecting multiple chains built on that module, including Nesa. The main attacker, with an address starting with 0x9AE7, had previously spent $250,000 to purchase NES and cross-chain it to Nesa Chain. They then exploited the vulnerability to inflate their account balance by 200 times, transferring $50 million in NES back to Ethereum, with the initial funds coming from Monero. The attacker dispersed the tokens across multiple wallet addresses, exchanged NES for ETH on a DEX, and then deposited the proceeds into a centralized exchange. Due to the rapid withdrawal of funds from the liquidity pool, most of the attacker's exchange transactions faced severe slippage, resulting in an actual expenditure of $255,000 to initiate the attack, while only cashing out $315,000, yielding a net profit of about $60,000. Bubblemaps noted that although another Cosmos EVM chain had suffered a similar attack of $1.4 million the day before, the differences in funding sources and operational methods suggest that the two incidents may have originated from different attackers. The report mentioned that the price of NES tokens plummeted by 90% at one point but has since rebounded significantly, with the team believing that the recovery is mainly due to arbitrage activities resulting from price mismatches between DEX and CEX after the attack.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Cosmos Labs Faces Criticism Over Disclosure Bug Issue, Leading to Recommendations for EVM Chains to Halt Operations

Cosmos EVM Module Faces Security Incident, Multiple Chains Affected

Asian Market Open and Cryptocurrency Volatility: How Nikkei 225, KOSPI, and Yen Carry Trade Affect Bitcoin

Outlook on 'Dollar Stablecoins' from Jackson Hole: "Dollar Hegemony Will Strengthen"

Saylor Sounds the Horn, and This Time He Really Has Ammunition

The Battle of HIP-4 Begins: Who Will Become the New trade.xyz?

Bitcoin Rises as an Alternative to a Weak Dollar

AI Infrastructure Earnings Face a Broad Validation Test as Jobs and ISM Data Set the Rate Narrative | WEEX Weekly Preview, August 31-September 4, 2026

Can You Make a Living from Cryptocurrency Trading? The Reality of Risk-Reward, Capital Management, and Necessary Tools

Deputy Governor Lu Lei Discusses the Clear Boundaries of Responsibility in Agent Payments and the Upcoming Release of Self-Regulatory Conventions, Agreements, and Standards

NAVI Prime: How the Largest Lending Protocol on Sui Innovates to Pave the Way for a $10 Billion Fund After $30 Billion in Loans Over Three Years?

Scott Bessent and Kevin Warsh Ordered the US Bond Curve and There Was No Tantrum Over the Upcoming Rate Hike

Amber CEO: A Confession and Rebirth of a 'Wayward' Public Company Boss

South Korea's Taxable Cryptocurrency Activities Reach Approximately 15 Trillion Won, Ranking 11th Among Analyzed Countries

Arthur Hayes Links 2008 Bank Bailouts to the Birth of Bitcoin

Dunamu (Upbit's Parent Company) Partners with Visa to Develop Stablecoin Payments and AI Commerce Remittance Business

Bank of America’s Hartnett: Contrarian Investors Await Two Key Signals, Ready to Shift to Risk-Off Mode

Solana Reduces Issuance by 18.9 Million SOL; BTC Quantum Experiment Underway

International Purchases in Dollars: A Guide to Using the Door-to-Door System Without Surprises

Your Brain Runs on 20 Watts. AI Wants a Power Plant

The Leverage Frenzy of Borrowing to Invest in Stocks: Why Wall Street is Paying Attention to the Sharp Decline in the Korean Stock Market

Negative GDP in Q3 Catches Market's Attention

CEO Jeremy Allaire says Circle built “the platform for the internet financial system”, but cirBTC has only 40 BTC

Arthur Hayes Identifies Major Undervalued Crypto Asset

VeChain (VET) Price Forecast: Possible Price Dynamics Until 2050

Stablecoin Reserves Concentrated in Treasury Bills Under 93 Days

USDC on Chelsea's Jersey: What the Deal Says About Crypto in Sports

Polymarket Expands to 20 Leagues, Facing Regulatory Conflicts

ETH: Anatomy of a Scarcity









