Nemo Protocol Launches NEOM Debt Tokens to Compensate $2.6M Hack Victims

Nemo Protocol, a decentralized finance platform operating on the sui blockchain, has unveiled a compensation plan for users impacted by a recent $2.6 million exploit. The initiative centers on issuing NEOM debt tokens, each pegged to $1, to symbolize losses incurred by affected parties.

The recovery program allows users to migrate remaining assets to secure smart contracts with a single click, simultaneously claiming NEOM tokens equivalent to their USD-denominated losses. A dedicated portal will streamline eligibility checks and token distribution.

Affected users face a critical choice: immediate exit via AMM liquidity pools or holding NEOM tokens pending potential recovery of stolen funds. The protocol acknowledges the tokens' value may fluctuate based on market conditions and recovery efforts.