Another Hacker Attack in the Cryptocurrency World: This Time the Target is a CEO

A hacker remotely altered the MetaMask wallet used by Nexus Mutual CEO Hugh Karp, the DeFi protocol. The Hacker carried out a transaction to send the CEO’s funds into his own wallet. Nexus Mutual is a cryptocurrency-specific insurance product that protects users from smart contract vulnerabilities. The platform’s native token, nxm, is only available for purchase through Nexus Mutual.

The hacker seized 370,000 Nxms of Karp, about $ 8 million. Using a modified combination of Metamask and hardware wallet, the hacker tricked Karp into signing a different transaction that transferred funds to his address. The Hack was described by Nexus Mutual via its Twitter account as a “targeted personal attack on Hugh.”

Karp described the attack as “a very good trick” and “the next stage.” He also said the hacker would have trouble cashing in on such a large amount of nxm, saying, “If you return the nxm in full, we will cancel all investigations and give you a $ 300,000 reward.”

The attack took place this morning and only affected Karp’s own address. The Nexus team has since explained that” there is no risk to Nexus Mutual or any member.” Some information about the hacker is already known. Friday, December 3, the hacker completed KYC 11 days ago and then moved his membership to a new address, according to Nexus Mutual.

The investigation is ongoing. The team at Nexus made a public request for help to stop the movement of funds.

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