The personal wallet address of Nexus Mutual founder and CEO Hugh Karp has been hacked for more than $ 8 million.

The attacker, a member of the Nexus defi protocol, cheated Karp in signing a transaction that transferred money to the hacker’s own address. The attacker gained remote access to Karp’s computer and changed its Metamask extension.

As a result, about 370,000 Nexus Mutual (NXM) tokens, worth about $ 8.25 million on Monday, were stolen from Karp’s personal wallet address.

In a tweetNexus Mutual said the hack, which took place on the morning of December 14, was a “targeted personal attack on Hugh.” Karp described the attack as a “really fun trick” and “definitely next level stuff”. He pleaded:

You will struggle to cash in on that much NXM. If you return the NXM in full, we will drop all surveys and I will award you a $ 300k bounty.

Nexus Mutual is not affected by the hack, nor are members affected by this scam. The protocol said the hacker completed his know-your-customer (KYC) processes 11 days ago and then switched membership to a new address on December 3.

Nexus added that an investigation is underway to identify the attacker and how they went about it. The Nexus team said the stolen money is being held in this address, and the attacker has already started exchanging some via 1Inch Exchange.

Meanwhile, the attacker reportedly cashed in $ 2.7 million of his loot on Tuesday, according to blockchain analytics firm Scorechain. The hacker switched the stolen NXM on Uniswap via 1Inch Exchange several times, making about 137 BTC valued at $ 2.7 million at current market prices.

What do you think of Hugh Karp’s hack? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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