July 21, 2024

Hackers hacked the cryptocurrency wallet of the founder of Nexus Mutual and stole $8 million

The founder of the cryptocurrency DeFi project Nexus Mutual, Hugh Karp, became a victim of a hacker attack.Unknownthe attacker stole $8 million from his personal wallet.

According to Nexus Mutual, the funds were withdrawn on Monday morning - the attacker gained access to Karp's hardware wallet.The hacker reportedly managed to install a compromised version of MetaMask, which tricked the entrepreneur into signing a transaction that redirected all of his NXM tokens to an attacker-controlled address.

MetaMask is a cryptocurrency wallet that works as an extension for Firefox, Google Chrome and Brave browsers.

The criminal made good money by easing the Nexus Mutual founder's wallet by 370,000 NXM, which at the timeThe publication was $8.2 million.

"When I was doing an unrelated transaction, MetaMask popped up with a fake transaction, and I approved it, thinking it was the same transaction I was going to do.Instead, NXM went to someone else's wallet," Karp said.My private keys remain safe.But they deceived me, as a result I signed a fake transaction."

The attacker was a Mutual user and was verified 11 days ago.However, his identity has not yet been established and the investigation has not yet been completed.In order to obtain NXM tokens, the user had to go through the verification process, although Nexus Mutual does not rule out that the attacker obtained his status fraudulently.

The NXM token has fallen 17% since the attack, although users' funds have not been affected.However, during the break-ins, approximately 6% of all tokens in circulation were stolen, which mayhave a significant impact on the price.

Karp praised the hacker for his sharp mind, promised not to prosecute the perpetrator, and offered a reward of $300,000 in exchange for a refundclaiming that the hacker would be difficult to convert NXM into more liquid forms of money.