Nemo Protocol Rocked by $2.6M Exploit After Rogue Developer Deploys Malicious Code
Another day, another 'trustless' protocol learning the hard way that code isn't the only thing that needs auditing.
The Inside Job
A single developer bypassed internal controls and pushed unauthorized code to production—proving that decentralized systems still have very centralized points of failure. The exploit drained funds in minutes before anyone could react.
The Aftermath
Protocol teams are scrambling to contain the damage while token holders watch another 'safe' investment vaporize. The incident exposes the brutal truth: in crypto, your biggest risk might be the person writing the smart contract.
Another harsh reminder that in DeFi, the 'trustless' dream often meets trusted human error—just in time for the next fund to pitch 'unbeatable security' to investors.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
