Nemo Protocol Suffers $2.6 Million Exploit Due to Unaudited Code

The Nemo Protocol has faced a significant security breach, resulting in a $2.6 million loss due to unaudited code deployment on its DeFi platform built on the Sui blockchain. The exploit has triggered a sharp decline in Total Value Locked (TVL), causing concerns about liquidity and user confidence. 😥 While the protocol’s team confirms the investigation into the incident, they have temporarily suspended all smart contract operations, maintaining the security of user assets in their vault, while navigating through this challenging situation.