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Nemo Yield Protocol Suffers $2.4 Million Exploit on Sui Blockchain

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1 min

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).

TVL in Nemo yield trading. (DefiLlama)

Original publication

Authors credited by the source: Omkar Godbole; AI Boost

Published by Holder based on an external source.