Nemo Protocol on Sui Blockchain Suffers $2.4 Million Hack

Nemo Protocol, a decentralized finance platform operating on the sui blockchain, was exploited for $2.4 million in a security breach detected late Sunday. Blockchain security firm PeckShield confirmed the attack, which occurred just before the platform's scheduled maintenance window.

The protocol's team swiftly suspended all smart contract activity following the incident. Initial reports indicate the hack targeted market pool funds, while vault assets remained secure. Community frustration mounted as communication from the project team lagged behind the unfolding crisis.

The attacker bridged stolen USDC via Circle from Arbitrum to Ethereum, according to on-chain data. Nemo Protocol's official statement promised ongoing investigation and future updates, leaving users questioning the platform's security measures during this critical period.