Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Nemo Protocol, a yield trading platform on the Sui blockchain, suffered a $2.4 million hack. The attacker exploited vulnerabilities to steal USDC stablecoins, moving the funds across networks by bridging them from Arbitrum to Ethereum through Circle. This cross-chain move makes tracking and recovery more difficult. The attack highlights ongoing security risks in DeFi despite increased adoption, reminding users and developers of the need for stronger protections in decentralized finance platforms.
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