Nexera Allegedly Hacked, NXRA Token Price Drops 64%

Bittime - Nexera has been the target of a hacking attack that is thought to have resulted in losses worth around $1.5 million. This hacking incident not only raised concerns about the security of the on-chain platform, but also caused a drastic drop in the value of the $NXRA token in the market.

Nexera Hack Incident Chronology 

Blockchain security company, Cyvers Alerts, revealed that their systems detected suspicious transactions related to proxy contracts of the Nexera protocol. 

An unknown address managed to take over ownership of the Nexera proxy contract and made updates to the contract. 

After that, the address uses the withdrawal management function to transfer all the $NXRA tokens it contains.

Nexera Loses $1.5 Million

Phe hack diverted funds from Nexera into other forms of crypto assets, such as $ETH. Some of these funds have even been transferred to the $BNB network, indicating that hackers are not just focusing on one platform. According to estimates from Cyvers Alerts, the total damage caused by this incident was approximately $1.5 million.

Read Also: Recap of Hacking Incidents in July 2024, Losses Reach $266 Million!

NXRA Token Price Drops Drastically

Source: CoinGecko.com

Not long after the Cyvers Alerts report was released, the price of the NXRA token fell drastically. Based on data from CoinGecko, the value of the NXRA token fell by 64.1% in 24 hours, down to a price of $0.02146. 

This decline was most likely triggered by panic after news of the hack spread. Investors who are concerned about the safety of their funds may start selling their assets, which then causes huge selling pressure on the NXRA token.

Read Also: Paris Olympic Venue Site Hacked, Hackers Demand Cryptocurrency Ransom

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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