Nexus Mutual CEO Hacked for $8M

Nexus Mutual CEO Hacked for $8M

By Abhimanyu Krishnan | News | 15 Dec 2020

On Dec. 14, DeFi insurance platform Nexus Mutual (NXM) revealed that the personal address of founder and CEO Hugh Karp was hacked for $8 million. 

  • Karp’s hardware wallet address was attacked on early Dec. 14 by a member of the Nexus Mutual platform; this was the only address that was targeted
  • The Nexus Mutual revealed that the attacker gained remote access to Karp’s computer, tricking Metamask into sending 370,000 NXM to the attacker’s wallet
  • The CEO said he was willing to drop investigations and pay a $300,000 bounty if the attacker returned the funds
  • The attacker has already begun transferring funds, using DEXs like Bancor and Uniswap to swap the assets

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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