BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Nemo Protocol’s $2.6 Million Exploit Traced to Unaudited Code Vulnerabilities
Nemo Protocol’s $2.6 Million Exploit Traced to Unaudited Code Vulnerabilities
18
1
BTCCSquare news:
Nemo Protocol, a decentralized finance platform operating on the sui blockchain, suffered a $2.6 million exploit earlier this month due to critical vulnerabilities in its unaudited code. The breach occurred on September 7 when attackers exploited exposed flash loan functionality and a flawed query mechanism.
Post-mortem analysis reveals these weaknesses were introduced in January 2023 by a developer who bypassed audit protocols. While blockchain security firm MoveBit had previously reviewed the code, subsequent modifications were deployed without proper scrutiny. The platform has since suspended operations, implemented patches, and initiated compensation plans for affected users.
By:
