Nemo Protocol Exploit: Ongoing $2.4M Hack

Nemo Protocol, operating on Sui, is currently grappling with a significant security breach, resulting in the loss of $2.4 million. The attack surface appears to involve a clever manipulation of cross-chain bridges, as the hacker successfully bridged USDC through Circle from the Arbitrum chain to Ethereum. The situational urgency is palpable as users scramble to ascertain the integrity of their assets.

What is Nemo Protocol?

Nemo Protocol is a decentralized finance platform built on Sui, designed to provide seamless liquidity solutions and enhanced financial services without the traditional overhead or centralized risks associated with legacy financial systems.

What Should You Do?

1. Immediately disconnect your wallet from Nemo Protocol and avoid interacting with any of its services.
2. Check your account on Sui for any unauthorized transactions or discrepancies.
3. If possible, transfer your assets to a secured wallet or a different protocol not affected by the exploit.
4. Stay vigilant for phishing attempts and fraudulent updates masquerading as official responses.
5. Monitor official communication channels from Nemo Protocol and Sui for verified updates and instructions.

Impact & Remediation Timeline

• Updated as of September 8, 2025: Nemo Protocol confirms the exploit and $2.4M loss. Investigation teams are evaluating breach vectors and working with forensic experts.
• The hacker has successfully bridged USDC from Arbitrum to Ethereum using Circle, enhancing traceability and retrieval complexity.
• Official statements from Sui and Nemo Protocol are pending, as efforts to mitigate further loss and community advisories are prioritized.

How FailSafe Can Help?

FailSafe offers cutting-edge monitoring tools for DeFi users, ensuring that any signs of unusual activity are flagged in real time. Our comprehensive suite of blockchain security solutions can safeguard your digital assets and provide immediate alerts for suspicious activities, helping you stay one step ahead of potential threats.

Stay Safe and Updated

As the situation continues to develop, it’s crucial to stay informed and act promptly on verified information. Be cautious about what information you trust and ensure that any actions taken are through secure, verified channels. By maintaining a proactive security posture, we can collectively minimize risks associated with such exploits.