According to reports from blockchain security firm Cyvers, the attacker successfully exploited a vulnerability in Nexera’s smart contract, allowing them to seize control of 32.5 million NXRA tokens, valued at approximately $1.23 million, along with $555,000 in USDT. The total stolen amount has been confirmed at $1.8 million.
Following the breach, Nexera promptly paused its smart contract and halted trading on decentralized exchanges to prevent further damage. Major exchanges, including KuCoin and MEXC, have also suspended deposits and withdrawals of NXRA tokens as a precautionary measure.
The Nexera team has stated that they are working closely with law enforcement to investigate the exploit and are taking steps to secure their platform against future attacks. “We have identified the exploit and are in discussions with law enforcement,” the company said in an official statement.
Onchain investigator ZachXBT revealed that the attacker is linked to a series of recent private key compromise incidents, including hacks on OKX DEX, SpaceCatch, Concentric Finance, Serenity Shield, and others. This suggests that the same malicious actor may be behind multiple high-profile breaches in the crypto space.
As the attacker begins converting the stolen NXRA tokens into Ether and bridging some funds to the BNB chain, there is growing concern about the potential for laundering through cryptocurrency mixers like Tornado Cash, making it more challenging for cybersecurity firms to trace the stolen assets.