Sui-Based Yield Protocol Nemo Exploited for $2.4M in USDC

Another day, another DeFi breach—Nemo's smart contracts just got a $2.4 million stress test they didn't ask for.

Anatomy of the Attack

Exploiters drained funds by manipulating price oracles and liquidity mechanisms—classic moves in the crypto heist playbook. The entire incident unfolded in under an hour, leaving users scrambling and the team issuing the usual 'investigation underway' statement.

Who’s Left Holding the Bag?

Yield farmers, liquidity providers, and anyone who thought 'Sui-based' meant 'safe' are now re-evaluating life choices. The protocol's promise of high returns suddenly looks a lot less appealing when the fine print includes 'potential total loss of funds.'

DeFi Security: Groundhog Day

Same story, different chain. Audits? Passed. Bug bounties? Offered. Yet $2.4 million still vanished—proving once again that in crypto, the only thing yield protocols generate consistently are opportunities for hackers.

Just another reminder that in decentralized finance, the only thing truly decentralized is the risk.