Nexera Suffers Major Cyberattack, $2.9 Million in Tokens Stolen

• The perpetrators wasted no time transferring the tokens, which were valued at around $2.9M.
• An unidentified address gained control of Nexera’s proxy contract.

A significant cyberattack has hit the blockchain platform Nexera. Theft of 47 million NXRA tokens occurred as a consequence of this security compromise.

The blockchain security company Cyvers Alert uncovered this flaw when it saw an unusual transaction utilizing Nexera’s proxy contract. An unidentified address gained control of Nexera’s proxy contract, updated it, and then transferred NXRA tokens via the withdraw admin function, resulting in the breach.

The perpetrators wasted little time transferring the tokens, which were valued at around $2.9 million when the hack occurred. Later on, the NXRA tokens were exchanged for Ethereum (ETH).

Investigation Underway

In addition, it is becoming more difficult to locate and retrieve the assets since a portion of them have already been transferred to the Binance Smart Chain (BNB Chain). Also, 14.7 million NXRA were changed into USDT, according to PeckShield Alert.

Nexera confirmed the vulnerability and reassured stakeholders in an official statement that they are thoroughly investigating the hack. The important measures done by the firm to lessen the impact and stop more losses were underlined.

In reaction to the crypto attack, the team quickly halted the NXRA token contract. Furthermore, it put a stop to trade on decentralized exchanges. To put a halt to NXRA trade, they are also collaborating with centralized exchanges.

Additionally, Nexera has issued a statement advising all token holders to immediately stop trading while investigations are ongoing. Data from CMC shows that after news of the crypto hack, the price of Nexera fell to a record low of $0.01815.

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