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Namada Exploit Drains $600,000 as Cosmos Ecosystem Faces Another Security Breach
Namada Exploit Drains $600,000 as Cosmos Ecosystem Faces Another Security Breach
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BTCCSquare news:
Privacy-focused blockchain Namada suffered a $600,000 exploit, nearly emptying its multi-asset shielded pool (MASP). The breach marks another security failure in the Cosmos ecosystem this year, following a separate $4.67 million attack on Secret Network.
Namada's total value locked (TVL) collapsed from $600,000 to just $598 within hours. The project's block explorer appears stalled, raising questions about chain infrastructure stability prior to the attack.
The team has appealed to the unidentified hacker to return funds, suggesting possible white hat involvement. Meanwhile, the Cosmos ecosystem continues grappling with security vulnerabilities as institutional interest in privacy protocols grows.
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