Nexera, a decentralized coin exchange also known as AllianceBlock Nexera, has had a major security breach that has caused them to lose about $1.5 million in cash. A blockchain analysis company called Cyvers was the first to notice the attack. They found a “suspicious transaction” connected to Nexera’s proxy contract.
Analyst Cyvers says that the hacker took over Nexera’s proxy contract and gave it more rights, which let the hacker use the withdraw admin function to move all NXRA tokens. Cyvers said that the hacker is actively selling Ethereum on the market, and some of the stolen money has already been linked to the BNB chain.
Nexera Responds and Pauses
Because of what happened, the Nexera team confirmed the exploit in a separate post on X, saying that they are “looking into an exploit involving smart contracts containing NXRA tokens.” Trading and the NXRA token contract have both been put on hold while the team tries to figure out how bad the breach really is.
Nexera is a trading tool between the Ethereum network and the Arbitrum Layer-2 solution. In 2018, Rachid Ajaja and Matthijs de Vries started it. The NXRA token is an important part of the program; it’s used for rewards and transaction fees. Since the hack, NXRA’s value has dropped by more than 40%, and it is now worth only $0.037.
