The attacker exploited a Cosmos EVM vulnerability to inflate NES holdings to $50 million, but the actual profit was approximately $60,000.

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A recent vulnerability incident involved an attacker exploiting a flaw in the Cosmos EVM module to inflate their NES holdings 200-fold to $50 million. The attacker bridged the tokens to Ethereum, swapped NES for ETH via a DEX, and deposited the funds on centralized exchanges. Despite initial funding in Monero, extreme slippage limited the final sale to $315,000, resulting in a net profit of approximately $60,000. The attack underscores ongoing Ethereum developments concerning smart contract security and token bridging risks.

Odaily Planet Daily reports that Bubblepmaps posted on X that an investigation into the security vulnerability exploit in the Cosmos EVM module revealed that the primary attacker (0x9AE7) purchased $250,000 worth of NES and bridged it to Nesa Chain, exploiting a balance vulnerability to inflate their holdings by 200 times, before bridging approximately $50 million worth of NES back to Ethereum.

The attack wallet's initial funds originated from Monero. The attacker exchanged NES for ETH on DEXs through multiple wallets and deposited the ETH into centralized exchanges. Due to the rapid withdrawal of liquidity, most of the exchanges suffered extreme slippage, and the attacker ultimately sold only for $3.15 million, resulting in a net profit of approximately $600,000 after costs.

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