“NEMO, A YIELD PROTOCOL ON THE SUI BLOCKCHAIN, SUFFERED A $ 2.4 Million Exploit.”, – WRITE: www.coindesk.com
The Protocol Fell Victim to A $ 2.4 Million Exploit On Monday, UndersCoring Persent Vulnerabilites in Decentralized Finance (Defi) Despite Growing Institute Adoption of Digital Assets.
The Malicious Entity Stole USDC, The Dollar-Pegged Stablecoin Issued by Circle Internet (CRCL), Bridging The Stolen Tokens from Arbitrum to Ethereum, Blockchain Secchain Ancuring Anteum On X.
NEMO IS A DEFI YIELD Optimization Platform Built on the Sui Blockchain. IT ALLOWS USERS TO TOCENIZE its YIELD BY SPLITING STAKED Assets Into Principal Tokens (PT) and Yield Tokens (YT) and Lets Them Trade, Hedge OREELDE FUTULATE ON FUTULATE.
Following the Hack, The Total Value Locked in the Nemo Yield Trading Tanked to $ 1.53 Million from Over $ 6 Million, Accounting To Data Source Defillama.
TVL in Nemo Yield Trading. (Defillama)
Paxos, Frax and Agora Are Competing for Hyperliquid’s USDH Stablecoin Contract As Moonpay Backs Agora Ceo Nick Van Eck’s Coalition and Conchers Muntic.
- Hyperliquid’s Plan to Launch The USDH Stablecoin Has Sparked A Governance Battle in the Crypto Community.
- The Decision on Who Will Issue USDH Will Be Made by a Validtor Vote on Sept. 14.
- Major Contenders Include Paxos, Frax and A Coalition Involving Agora and Moonpay, With Debates Centering Armund Stripe’s Potential Control.
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