ChainThink reports that on August 26, according to a Bubblemaps tweet, the attacker exploited a vulnerability in Cosmos EVM's shared module to steal NES tokens worth $50 million, ultimately profiting only about $60,000.
The attacker address starting with 0x9AE7 previously spent $250,000 to purchase NES and bridged it to Nesa Chain, exploiting a vulnerability to inflate their account balance by 200 times. They then bridged $50 million worth of NES back to Ethereum, distributed it across multiple wallets, exchanged it for ETH on DEXs, and deposited it into centralized exchanges.
Due to a rapid withdrawal of funds from the liquidity pool, most trades experienced significant slippage, resulting in an actual attack cost of $255,000 and a cash-out of $315,000.
Bubblemaps noted that another Cosmos EVM chain suffered a similar $1.4 million attack the previous day, but differences in the source of funds and attack methods suggest the two incidents may have been carried out by different attackers.
The NES token price once dropped by 90%, but has since rebounded significantly due to arbitrage activities between DEX and CEX.