The Cosmos-based privacy chain said it is working with security firms after a roughly $600,000 exploit hit its multi-asset shielded pool, collapsing TVL and prompting an appeal for the attacker to make contact if it was a white-hat action.
Namada said it is investigating a security exploit disclosed on June 20 after on-chain activity showed 228,517 ATOM moved to a Cosmos Hub address on June 18 and then transferred out through multiple IBC transactions. The Cosmos-based privacy chain said the attack drained roughly $600,000 from its multi-asset shielded pool, its core privacy feature, cutting TVL from about $600,000 to $598 within a day. The team said it is coordinating with security firms and other relevant parties, and asked the attacker to get in touch if the incident was a white-hat hack. Namada had not disclosed the cause, attack path, specific vulnerability, total losses beyond the reported drain, a post-mortem, or a timeline for restoring services at the time of publication.