$50 million bridged from Nesa to Ethereum in security incident
An incident involving Nesa resulted in the bridging of $50 million worth of NES to Ethereum. The mechanism of the attack was not disclosed by Nesa.
An attacker bridged 257.7 million NES from Nesa to Ethereum, resulting in a loss estimated at $50 million. This incident is noted to be consistent with previous attacks related to the Cosmos EVM bug chain that affected other platforms such as MANTRA, TAC, and KiiChain. However, Nesa did not publish details regarding the specific mechanism used in this incident.
Bubblemaps estimated that slippage reduced the net profit from the attack to approximately $60,000. The incident highlights the significant financial impact of the breach, despite the reduced profit due to slippage. The absence of a specified blockchain for the incident limits further analysis of the on-chain record and tracing capabilities.