Cyver Alert System has detected a suspicious transaction involving the Nexera @Nexera_Official proxy contract.
An address gained control of the proxy contract and executed an upgrade. Shortly after, the address used the “withdraw admin” function to transfer all $NXRA tokens.
The malicious actor is currently selling the tokens for $ETH, with some funds already bridged to the $BNB chain. The total estimated loss is approximately $1.5 million.
🚨ALERT🚨Hey @Nexera_Official,
Our system has detected a suspicious transaction involving your proxy contract.
An address took ownership of your proxy contract and upgraded it. Shortly after, the address used the withdraw admin function to transfer all the $NXRA tokens.The… pic.twitter.com/Of4bAD7UiP
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) August 7, 2024
Nexera Team Responds Quickly To The Situation
In response to this alert, the @Nexera_Official team announced an investigation into the exploit involving smart contracts containing $NXRA tokens. The team acted swiftly to prevent further damage and has taken the following measures:
Announcement
The team is investigating an exploit involving smart contracts containing NXRA tokens.
While we are still finalizing our findings, there are already a couple of things that we can share:
1️⃣ The $NXRA token contract has already been paused. Trading is halted on…— Nexera (@Nexera_Official) August 7, 2024
1. Collaborating with partners at @HypernativeLabs to trace the source of the exploit, and initiating discussions with law enforcement.
2. KuCoin has suspended deposits and withdrawals, with trading set to halt in the next few hours.
3. MEXC has suspended deposits, withdrawals, and trading.
4. Trading on DEXes has been halted.
5. Bridging on Nexera Bridge has been suspended.
Update
We have already identified the exploit in the past hours. We have acted fast and managed to stop further damage.
We have also taken the following steps:
✅ We are working with our partners at @HypernativeLabs to trace the source of the exploit and have begun discussions…
— Nexera (@Nexera_Official) August 7, 2024
The swift action by the @Nexera_Official team and their partners aims to mitigate the impact of this exploit and protect remaining assets. The incident highlights the critical need for robust security measures in the crypto space, as well as the importance of quick, coordinated responses to potential threats.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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