Founder
of DeFi Insurer Nexus Mutual Hacked for $8 Million in NXM
Hugh Karp, the founder and CEO
of decentralized finance (DeFi) insurer Nexus Mutual, has lost about $8
million worth of the project’s native NXM tokens in a targeted attack.
A total of 370,000 NXM tokens
were stolen from Karp’s address to one controlled by the attacker, another
member of Nexus Mutual. The attacker reportedly completed know-your-customer
verifications 11 days ago and switched to a new address on Dec. 3, before gaining
remote access to Karp’s computer.
Using that access, the attacker
modified the MetaMask wallet extension, tricking Karp into signing a
different transaction that sent the funds from his hardware wallet to the
attacker’s wallet. The company has since clarified only Karp’s address was
compromised and that the “mutual is not impacted; the pool of funds and all
systems are safe.”
Part of the stolen funds have
been transferred via decentralized exchange aggregator 1inch.exchange.
