cosmosevm

🚨 An error in Cosmos EVM drains 5.7 million dollars across six chains 🚨

The exploit in Cosmos EVM highlights the structural risks associated with reusing shared code modules in multichain architectures. Although the fix through patches v0.6.2/v0.7.2 and the coordinated shutdown of validators halted the spread of the attack, the initial misjudgment by the auditing teams underscores the need to strengthen vulnerability disclosure protocols and the speed of updates on decentralized networks.
#CosmosEVM #CryptoNewss #BinanceSquare

🚨 MANTRA has frozen its blockchain following a Cosmos EVM incident, with validators instructed to keep mainnet nodes offline pending an official restart. The token has hit a new low amid the disruption. This suspension raises concerns about network reliability and could pressure short-term sentiment until operations resume. Is the freeze a necessary safeguard—or a sign of deeper instability? #MANTRA #CosmosEVM

🚨 Cosmos EVM bug just cost the ecosystem $5.7M — here’s what happened

A critical integer underflow flaw in the Cosmos EVM module let attackers manipulate account balances and drain funds without minting new tokens — no exploit-detection red flags, just quiet balance manipulation.

📅 Timeline:
• Bug reported via bounty program → Cosmos Labs applied a silent fix in May, no public advisory
• An independent researcher later found it affected ALL Cosmos EVM chains
• Patch released Aug 19
• Attackers struck ~20 hours later, Aug 20–25
• Total damage: ~$5.7M across six blockchains

💥 Hit hardest: MANTRA (~$3.6M), plus TAC and KiiChain among others

🛠️ The response: Cosmos Labs scrambled to coordinate with ~40 chains, helping 13 patch or halt operations in time. The rest weren’t so lucky.
🔍 The real lesson here isn’t just “another exploit” — it’s shared software risk.
When dozens of chains run the same underlying module, one silent, underestimated bug becomes a coordinated attack surface across the entire ecosystem. Cosmos Labs has said it’s overhauling its vulnerability disclosure process.

If you’re holding or building on any Cosmos EVM chain, this is worth reading in full — communication gaps between “we patched it quietly” and “here’s a public advisory” are exactly what attackers wait for.

⚠️ Not financial advice. Always verify chain-specific security updates directly from official sources.

#Cosmos #CosmosEVM #CryptoSecurity #DeFiHack #MANTRA $ATOM

🔎 NES Hack & Migration — What I Found

I’ve been investigating the recent NES (Nesa) incident and found some interesting on-chain evidence.

On August 24, Nesa reported malicious activity involving an L1 vulnerability and said they were working on a fix and recovery.

I found:
🔴 Old side: ~62.904M NES was sent to the Null Address, effectively removing the tokens.

🟢 New Ethereum contract: ~62.904M NES was minted from the Null Address → Gnosis Safe.

The amounts are extremely close, and that Gnosis Safe now holds around 62.9M NES.

This makes the migration/recovery theory very interesting:
Exploit → liquidity isolated → old supply removed → new Ethereum contract → corresponding NES created → Gnosis Safe → new liquidity rebuilt → exchanges migrate → trading resumes.

I’m also seeing new NES/USDT & NES/USDC pools and activity through Uniswap V4, LI.FI and DEX aggregators, showing that the new ecosystem is being rebuilt.

⚠️ However, I’m not saying everything is fixed yet.
The biggest confirmation will be when users can:
BUY → SELL → DEPOSIT → WITHDRAW
normally again, with healthy liquidity.

For now, the matching ~62.9M NES movements are the biggest clue I’ve found.

I’ll keep watching the wallets, liquidity and migration activity.
DYOR. Not financial advice.

#NES #Nesa #Ethereum #DeFi @CZ #CosmosEVM