Nexus Mutual founder’s personal address gets attacked, funds worth more than $8 million get drained
Hugh Karp, the founder of DeFi insurance protocol Nexus Mutual, has just experienced an attack that resulted in a loss of more than $8 million.
Nexus Mutual announced the news via a Twitter post on Monday, saying that Karp’s personal address was attacked and drained by a member of the protocol.
The address contained 370,000 XNM tokens, currently worth about $8.25 million.
Karp told The Block that the attacker tricked him into approving one transaction, somehow gained access to his computer, and altered his MetaMask extension.
“Then when I was performing an unrelated transaction, MetaMask popped up with a spoof transaction, and I subsequently approved it, thinking it was the transaction I was intending to conduct. Instead it was transferring NXM to their wallet,” said Karp.
“Nexus Mutual is fine, and nobody else is impacted. My private keys are still secure. They didn’t’ get access to them. They tricked me into signing a spoof transaction,” Karp added.
This is a developing story and will be updated
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Author: Yogita Khatri
