Nemo Yield Protocol Suffers $2.4 Million Exploit on Sui Blockchain
Nemo, a yield protocol on the Sui blockchain, suffered a $2.4 million hack, highlighting ongoing vulnerabilities in decentralized finance (DeFi). The incident involved the theft of USDC, which was bridged from Arbitrum to Ethereum.
Key points:
- The total value locked (TVL) in Nemo dropped from over $6 million to $1.53 million.
- Nemo allows users to tokenize yield by splitting staked assets into Principal Tokens (PT) and Yield Tokens (YT).
