Attacker Steals $50 Million in NES, Only Profits $60,000
The attacker exploited a vulnerability in the Cosmos EVM shared module to steal $50 million worth of NES tokens, but ultimately only made a profit of about $60,000. Cosmos Labs had previously reported a security flaw in its shared Cosmos EVM software, affecting multiple chains built on that module, including Nesa. The main attacker, with an address starting with 0x9AE7, had previously spent $250,000 to purchase NES and cross-chain it to Nesa Chain. They then exploited the vulnerability to inflate their account balance by 200 times, transferring $50 million in NES back to Ethereum, with the initial funds coming from Monero. The attacker dispersed the tokens across multiple wallet addresses, exchanged NES for ETH on a DEX, and then deposited the proceeds into a centralized exchange. Due to the rapid withdrawal of funds from the liquidity pool, most of the attacker's exchange transactions faced severe slippage, resulting in an actual expenditure of $255,000 to initiate the attack, while only cashing out $315,000, yielding a net profit of about $60,000. Bubblemaps noted that although another Cosmos EVM chain had suffered a similar attack of $1.4 million the day before, the differences in funding sources and operational methods suggest that the two incidents may have originated from different attackers. The report mentioned that the price of NES tokens plummeted by 90% at one point but has since rebounded significantly, with the team believing that the recovery is mainly due to arbitrage activities resulting from price mismatches between DEX and CEX after the attack.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

NES token trading resumes on Binance Alpha and Kraken after $286M exploit

NESA Shifts from Opposition to Neutral on CLARITY Act, Clearing a Major Obstacle for Voting

Cosmos Labs Faces Criticism Over Disclosure Bug Issue, Leading to Recommendations for EVM Chains to Halt Operations

Cosmos EVM Module Faces Security Incident, Multiple Chains Affected

Circle expands CCTP to EURC and cirBTC on Arc

FedNow readies cross-border support for U.S. banks

Bitcoin, Sports, and Politics: Predictive Markets Target $10 Trillion

Exclusive Interview with CK Zheng of ZX Squared Capital: How a Wall Street Risk Control Expert Accurately Grasped Market Trends and Outperformed Bitcoin Returns by Double

The End of the Blank Prompt: Why Trading AI Needs a Playbook

JR Kyushu Enters Financial Sector in Partnership with SBI, From Banking to Cryptocurrency

Bitcoin Pulls Back From $87,000| WEEX TradFi Daily Brief (September 24, 2026)
Bitcoin pulled back from about $87,000 to about $84,000, with Ethereum near $2,680. S&P Global PMI on September 23 ET far exceeded forecasts. The 10-year yield broke above 5.00%, while the 5-year and 30-year touched highs last seen in 2007 and 2004. The S&P 500 and Nasdaq slipped. Energy moved with oil and crypto-treasury stocks followed bitcoin lower. Investors await earnings from COST, BB, and others.

Cardano proposal slashes fees by 55%, but it comes with a cost for small pools

The Evolution of AI: The Boundaries and Truth of Recursive Self-Improvement (RSI)

US Bond Market 'Meltdown'... Why Are Interest Rates Soaring?

Coinbase plans post-quantum Bitcoin custody for any scheme

Treasury’s cash balance nears $1 trillion while Bitcoin awaits a crucial market signal

Aerodrome farming made up 90% of USDC transfers, analyst says

Nearly $20 million in XRP drained from 6,678 wallets across six attack waves

How often do major exchanges actually publish proof of reserves?

$1 billion in trading volume masks hidden liquidity risks for Coinbase stock token holders

The Quantum Issue: You Never Really Know The Future

Stablecoins hold nearly $200 billion in US debt, but money funds bought the surge

Blockchain.com and NYSE explore 24/7 trading of tokenized US stocks

Fed's Barr Warns Inflation Not Under Control, Additional Rate Hikes Needed

Crypto Kidnapping: 6 Suspects Charged in Case Involving a Few Hundred Euros in Val-d’Oise

Security and fees hold back deeper crypto use among wealthy investors: Nexo report

Why leaving your crypto on an exchange is not the same as having it in your own wallet?

Binance Under Scrutiny Again for Iran-Related Trading

Crypto: NEAR Partners with Ondo for Tokenized and Confidential U.S. Stocks








