{"id":50434,"date":"2025-09-08T11:07:31","date_gmt":"2025-09-08T08:07:31","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=50434"},"modified":"2025-09-08T11:07:31","modified_gmt":"2025-09-08T08:07:31","slug":"sui-based-defi-platform-hacked-2-4-million-usdc","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sui-based-defi-platform-hacked-2-4-million-usdc\/","title":{"rendered":"Breaking: Sui-Based DeFi Platform Hacked!"},"content":{"rendered":"<p><span data-contrast=\"auto\">Today, <strong>Nemo Protocol<\/strong>, a <a href=\"https:\/\/coinengineer.net\/blog\/sui-network-announces-and-deletes-robinhood-listing-announcement\/\"><strong>Sui-based<\/strong><\/a> decentralized finance (DeFi) platform, suffered a major hack, losing approximately $2.4 million in USDC. The attacker exploited a vulnerability in the platform\u2019s smart contracts. They transferred the stolen funds to Ethereum via Arbitrum, making it difficult to trace. This incident highlights the persistent security risks in DeFi platforms and cross-chain bridges.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Platform users are closely monitoring the situation to secure their assets. The Nemo Protocol team has yet to provide a detailed public statement. Meanwhile, the community seeks clarity on whether the lost funds can be recovered. Security researchers are actively investigating the attack and tracking the attacker\u2019s wallet movements.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\"> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-50435 \" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/nemo-sui-hack-1024x647.jpeg\" alt=\"\" width=\"678\" height=\"428\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/nemo-sui-hack-1024x647.jpeg 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/nemo-sui-hack-300x189.jpeg 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/nemo-sui-hack-768x485.jpeg 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/nemo-sui-hack.jpeg 1110w\" sizes=\"auto, (max-width: 678px) 100vw, 678px\" \/><\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/sui-based-defi-platform-hacked-2-4-million-usdc\/#Attack_Details_and_Implications_for_Nemo_Protocol\" title=\"Attack Details and Implications for Nemo Protocol\u00a0\">Attack Details and Implications for Nemo Protocol\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/sui-based-defi-platform-hacked-2-4-million-usdc\/#Cross-Chain_Bridges_Key_Vulnerabilities_for_DeFi\" title=\"Cross-Chain Bridges: Key Vulnerabilities for DeFi\u00a0\">Cross-Chain Bridges: Key Vulnerabilities for DeFi\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Attack_Details_and_Implications_for_Nemo_Protocol\"><\/span><span data-contrast=\"auto\">Attack Details and Implications for Nemo Protocol<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">Nemo Protocol allows users to deposit assets and take positions based on changing interest rates. All operations are automated through smart contracts, making the system fast and efficient. However, even minor coding errors can lead to significant losses. In this case, the attacker exploited a weak point and quickly moved the funds across different networks, evading detection.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The scale of this single attack is concerning. <strong>DeFi hacks<\/strong> continue to account for a large portion of crypto losses in 2025. Every month, new incidents increase the total loss, with August alone seeing millions of dollars stolen in 16 separate attacks.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cross-Chain_Bridges_Key_Vulnerabilities_for_DeFi\"><\/span><span data-contrast=\"auto\">Cross-Chain Bridges: Key Vulnerabilities for DeFi<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-contrast=\"auto\">Cross-chain bridges allow users to transfer assets between different blockchains. While convenient, these bridges concentrate large funds, making them prime targets for hackers. Attackers exploit the complexity of DeFi systems to move stolen assets across multiple networks. Cross-chain vulnerabilities remain one of the biggest security concerns in DeFi.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Developers must prioritize security measures to prevent attacks. Even sophisticated users cannot fully mitigate risks if bridge and contract vulnerabilities exist.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\"> <em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, Nemo Protocol, a Sui-based decentralized finance (DeFi) platform, suffered a major hack, losing approximately $2.4 million in USDC. The attacker exploited a vulnerability in the platform\u2019s smart contracts. They transferred the stolen funds to Ethereum via Arbitrum, making it difficult to trace. This incident highlights the persistent security risks in DeFi platforms and cross-chain<\/p>\n","protected":false},"author":36,"featured_media":47938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,2],"tags":[5476,15625,13807,23502,938,3428,17954,13811,2122,23501],"class_list":["post-50434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-news","tag-blockchain-security","tag-cross-chain-risk","tag-crypto-attack","tag-crypto-vulnerability","tag-defi-hack","tag-defi-platform","tag-ethereum-bridge","tag-smart-contract-exploit","tag-sui-network","tag-usdc-theft"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Breaking: Sui-Based DeFi Platform Hacked! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"A Sui-based DeFi platform suffered a hack today, losing $2.4M in USDC, highlighting cross-chain and DeFi security risks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sui-based-defi-platform-hacked-2-4-million-usdc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking: Sui-Based DeFi Platform Hacked! 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