Crypto heist nabs $2.4M from Nemo Protocol

Decentralized finance yield platform Nemo Protocol has lost $2.4 million worth of USDC following a heist of its systems, according to Cryptonews. Attackers have immediately transferred funds stolen from Nemo Protocol, which operates on the Sui blockchain, to Ethereum after using Circle, said PeckShieldAlert in a post on X, formerly known as Twitter. The incident was attributed by Nemo to an intrusion impacting its Market pool on Sunday evening. Operations of all smart contracts have been temporarily suspended amid an ongoing probe into the vulnerability's cause. "We plan to share when more information becomes available. All Vault assets remain untouched. Our team, together with partners, is actively working on solutions," said Nemo in an X post. Such a development comes just days after other DeFi protocols Venus and Bunni had $13.5 million and $8.5 million pilfered from their respective systems. More than $2.37 billion worth of crypto assets have already been compromised in security incidents aimed at the blockchain sector during the first half, more than three-quarters of which were linked to DeFi protocols, a SlowMist analysis revealed.