Cosmos EVM Exploit Nets Attacker $60K Despite $50M Heist

A recent exploit of the Cosmos EVM (Ethereum Virtual Machine) has hit several networks, including Nesa, KiiChain, TAC, and MANTRA Networks. The attacker exploited a vulnerability to create and bridge roughly $50 million in NES tokens through Nesa Chain.

The attack allowed the hacker to multiply the balance of NES tokens by 200 before moving $50 million of the tokens to Ethereum. The attacker then swapped NES tokens for ETH on decentralized exchanges and transferred the funds to centralized exchanges, but was subjected to huge slippage due to dry liquidity.

Despite having tokens worth nearly $50 million, the hacker's net profit from the attack was estimated to be around $60,000. This is because of extreme slippage and liquidity withdrawals during the swap process.