$50 million bridged from Nesa to Ethereum in security incident

An attacker executed a bridge operation involving 257.7 million NES tokens from Nesa to Ethereum, leading to a significant financial loss estimated at $50 million. The specific mechanism of the attack was not disclosed by Nesa, but it is noted to be consistent with previous incidents related to the Cosmos EVM bug chain that impacted other platforms such as MANTRA, TAC, and KiiChain.

Bubblemaps provided an estimate indicating that slippage during the bridging process reduced the net profit from the operation to around $60,000. This suggests that while the initial transaction involved a large volume of tokens, the effective gain for the attacker was considerably lower due to market conditions at the time of the bridge.

The incident highlights the vulnerabilities associated with bridging assets across different blockchain networks. The lack of specific details on the mechanism used in this attack leaves open questions about the exact nature of the exploit, but it aligns with known issues in the Cosmos EVM ecosystem.

No specific addresses were provided in the description, which limits the ability to trace the on-chain record of the transaction. However, the scale of the loss indicates a significant impact on the Nesa platform and its users.