Multi-chain decentralized exchange Nexera has been hit by a $1.5 million exploit, forcing it to halt all trading.
Decentralized cryptocurrency exchange Nexera — also known as AllianceBlock Nexera — has been attacked by a hacker, resulting in a $1.5 million liquidity loss. The breach was first reported by blockchain analytics firm Cyvers through Posted on Xwhich referred to a “suspicious transaction” related to Nexera’s agency contract.
According to Cyphers, the attacker was able to take control of Nexera’s proxy contract, and later upgraded it with new permissions. This allowed the hacker to use the administrative withdrawal function to transfer all NXRA tokens. Cyphers says the hacker is actively selling all of the exchange’s liquidity for Ethereum (ETH), and some of the funds have already been tied to the BNB blockchain.
Shortly after the attack, the Nexera team confirmed the exploit in a separate post on X, saying the team was “investigating an exploit involving smart contracts containing NXRA tokens.” While the exact nature of the hack remains unclear, the NXRA token contract has been temporarily suspended, with trading halted as the exchange team continues to finalize its “findings.”
“We are continuing to investigate the vulnerability now and will get back here as soon as possible to take the next steps. We thank you for your understanding and patience as we work to resolve this issue with the highest priority.”
Nexera
Founded in 2018 by Rachid Ajaja and Matthijs de Vries, Nexera facilitates trading between the Ethereum network and the Arbitrum layer-2 solution. The platform’s native token, NXRA, is used for various functions including transaction fees and rewards within the ecosystem. Following the news of the exploit, NXRA’s value dropped by more than 40%, now trading at $0.037, according to crypto.news data.
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