Key Takeaways:
- Nexera has suffered a $1.8 million hack, prompting an investigation and halting of smart contracts.
- The attacker, linked to previous exploits, is liquidating stolen NXRA tokens for Ether and transferring funds to the BNB chain.
Blockchain infrastructure provider Nexera has faced a significant security breach, resulting in the loss of $1.8 million. The incident, confirmed by crypto security firm Cyvers, has prompted Nexera to take immediate action, including halting their smart contract and initiating an investigation.
Nexera, formerly known as AllianceBlock, made a public announcement on X, stating that they have “identified the exploit” and are actively engaging with law enforcement.
The NXRA token contract has been paused, and trading on decentralized exchanges has been halted. Additionally, centralized exchanges such as KuCoin and MEXC have suspended deposits and withdrawals of NXRA tokens to mitigate further damage.
According to data from Zapper, the attacker currently holds 32.5 million NXRA tokens, valued at approximately $1.23 million, along with $555,000 in Tether’s USDT stablecoin. The hacker has started liquidating the NXRA tokens for Ether, with some of the funds already transferred to the BNB chain. Cyvers estimates the total loss to be around $1.5 million.
This breach is not an isolated incident; the attacker has a history of previous exploits, including breaches at OKX DEX, SpaceCatch, and Concentric Finance. This pattern of attacks highlights the ongoing security challenges within the DeFi sector.
The use of mixers like Tornado Cash to convert stolen tokens to ETH further complicates recovery efforts.
The crypto sector faced a devastating month in July, as hackers managed to steal approximately $266 million through 16 separate breaches, highlighting the persistent security challenges in the industry.
Among the most significant incidents was the July 18 attack on Indian crypto exchange WazirX. This breach alone accounted for over $230 million, or a staggering 86.4% of the month’s total losses
