The broader DeFi market has suffered another setback following the hack of Nexera protocol, leading to the loss of over $1.5 million in crypto assets. Renowned for its lofty ambition to bridge the DeFi world with Traditional finance, Nexera, according to Cyvers was hacked for $1.5 million worth of its native token, NXRA.
The Nexera team confirmed the attack on X, highlighting some steps it is taking to deescalate the crisis. One of the steps is working with its partners, Hypernative Labs to track the architect of the hack and report to law enforcement agencies. More so, the team says it has already secured the backing of top exchanges like KuCoin and MEXC to avert the movement of the stolen funds by the hacker. According to the announcement, both exchanges have already agreed to suspend deposits, withdrawals, and trading for NXRA.
In addition to this, the Nexera team says trading of the token on DEXes has also been halted. The team urged everyone to stop trading and await further updates as the investigation surrounding the attack kicks off.
Nexera Attacker on the run – Cyvers
Meanwhile, a report by Cyvers indicates that the Nexera hacker is already on the run with the funds. The blockchain security firm added the hacker already swapped a part of the stolen NXRA tokens for ETH, stressing that some of the funds have already been bridged to the BNB network.
On-chain investigator, ZachXBT linked the Nexera attacker’s addresses to previous private key exploitations, particularly the ones encountered by SpaceCatch, Concentric Finance, OKX DEX, Serenity Shield, Reach, and more.
However, the attack on Nexera comes barely a few hours after the Ronin network suffered a $9.8 million hack. However, according to emerging reports, the white hat hacker has returned all the stolen funds to the team.
Barely a few weeks ago, Binbits reported how WazirX endured more than $230 million in exploitation. This attack, as reported, is the second-largest crypto hack of 2024 so far.
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