Nemo Protocol experienced a $2.4 million hack on Sui Network, September 8, 2025, with USDC assets stolen and transferred from Arbitrum to Ethereum, PeckShieldAlert reported.
The incident highlights vulnerabilities in blockchain protocols, as no official responses from Nemo or Sui teams emerged, raising concerns over asset security and protocol transparency.
$2.4 Million USDC Theft Exposes Blockchain Vulnerabilities
Nemo Protocol experienced a $2.4 million loss, involving USDC. PeckShieldAlert, a blockchain security firm, reported the incident. The attack occurred on the Sui Network, impacting USDC assets specifically. The breach was executed through the Arbitrum-to-Ethereum bridge.
The hack shows ongoing risks linked to decentralized finance infrastructure. Vulnerabilities persist despite previous security improvements in blockchain technologies. Immediate financial exposure concerns persist, affecting USDC liquidity on Sui.
“The incident was first raised by PeckShieldAlert, a blockchain security firm that tracks on-chain exploits.”
Stablecoin Market Steady Despite Security Concerns
Did you know? The $2.4 million USDC loss on the Sui network exposes a vulnerability similar to the Cetus DEX exploit, where extensive recovery actions were seen.
According to CoinMarketCap, USDC remains stable at $1.00 with a market cap of $72.55 billion. The token shows a slight 24-hour and 7-day change at -0.13%. Its dominance in the stablecoin market holds at 1.89%, unaffected by the recent exploit.
Industry experts suggests potential regulatory developments emphasizing security protocols. Strengthening technological defenses remains key for the sustainable growth of decentralized finance. Enhanced security standards may emerge to protect against similar vulnerabilities.
