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Nemo Protocol on Sui Blockchain Loses $2.4M in Oracle Exploit
Nemo Protocol on Sui Blockchain Loses $2.4M in Oracle Exploit
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BTCCSquare news:
Nemo Protocol, a lending platform built on the sui blockchain, suffered a $2.4 million security breach due to a price oracle manipulation attack. Blockchain security firm CertiK identified suspicious withdrawals linked to a single wallet address, exploiting faulty pricing data to overdraw collateral.
The incident underscores persistent vulnerabilities in DeFi. Recent days have seen multiple exploits, including an $8.4 million loss at Bunni from a smart contract rounding error and a $13 million phishing scam on Venus Protocol. These events highlight the sector's urgent need for enhanced security measures.
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