Nexera Details

    Organization Logo

    Nexera

    New York City, NY • 55 employees • Financial Services

    https://www.nexera.foundation/
    United States

    Industry

    Financial Services

    Security Incidents

    1

    Nexera is a decentralized platform designed to facilitate secure and efficient transactions and smart contracts. Its primary purpose is to provide an infrastructure that supports high-performance blockchain technology, enhancing the scalability, security, and interoperability of digital assets and applications. By leveraging advanced cryptographic techniques and consensus mechanisms, Nexera aims to offer a robust solution for enterprises and developers seeking to build decentralized applications (dApps) and execute complex blockchain-based protocols.

    Since its inception, Nexera has focused on...
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    Security Incidents

    Nexera Breach of Aug 2024
    Severity Score
    Significant to High

    Type

    Unknown

    Summary

    On August 7, 2024, blockchain platform Nexera was hacked, leading to the theft of 47 million NXRA tokens. Initially, the value of the stolen tokens was thought to be over $1.5 million, but Nexera's internal investigation later revised this figure to $440,000. The attacker took control of Nexera’s proxy contract, executed a withdrawal function, and quickly transferred the tokens to their wallet, converting a significant portion into Ethereum and moving it to the Binance Smart Chain.

    Nexera responded by pausing the NXRA token contract and halting trading on decentralized and centralized exchang...
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    Severity

    Nexera, a prominent Decentralized Finance (DeFi) protocol, faced a severe cyberattack where approximately 47 million NXRA tokens were stolen, initially estimated at over $1.5 million. The swift response from Nexera, including pausing token contracts and halting trading, limited the effective loss to $440,000. However, the complexity of the attack, involving the control of proxy contracts and movement across multiple blockchains, alongside the substantial hit to the token's value, underscores significant vulnerabilities and necessitates advanced and continuous security measures in the DeFi spac...
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    Impact

    Nexera recently experienced a significant cyber incident resulting in the theft of approximately $440,000 worth of NXRA tokens. Although initially reported losses were higher, the company’s investigation claims that the actual compromised amount was lower. As a direct response, Nexera paused its NXRA token contract and halted trading on both decentralized and centralized exchanges to mitigate further damage.

    Customer data does not appear to have been exposed since this was a targeted attack on the company's proxy contract. However, foundational elements such as the token's value were affected...
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