The Nemo protocol’s post-mortem clarifies a developer’s unaudited code caused the exploit, which led to a $2.59 million loss and triggered urgent security measures and compensation plans.
Nemo Protocol’s post-mortem reveals that a rogue developer’s unaudited code led to the September 7 exploit, resulting in a $2.59 million loss. Key vulnerabilities included a public flash loan function and a faulty pricing mechanism, allowing attackers to steal funds. The protocol has removed the flaws, initiated emergency audits, and promised compensation for affected users. Security practices will be strengthened going forward.