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Home - Altcoins News - Nemo Protocol Hacked on Sui Network; $2.4 Million USDC Stolen

Altcoins NewsNews

Nemo Protocol Hacked on Sui Network; $2.4 Million USDC Stolen

Nemo Protocol experienced a $2.4 million hack on Sui Network, September 8, 2025, with USDC assets stolen and transferred from Arbitrum to Ethereum

Oladapo Timothy
Last updated: October 14, 2025 8:00 am
Oladapo Timothy
Published: October 14, 2025
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Nemo Protocol Hacked on Sui Network; $2.4 Million USDC Stolen
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Highlights
  • Nemo Protocol lost $2.4 million after Sui network hack.
  • No public comments from Nemo or Sui leaders.
  • USDC was the primary affected asset.

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.

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#PeckShieldAlert @nemoprotocol on @SuiNetwork has been exploited for $2.4M

The hacker bridged $USDC via Circle from Arbitrum to Ethereum. pic.twitter.com/QSB0ec7TZy

— PeckShieldAlert (@PeckShieldAlert) September 8, 2025

$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.

Outline
  • $2.4 Million USDC Theft Exposes Blockchain Vulnerabilities
  • Stablecoin Market Steady Despite Security Concerns

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.

usdc-daily-chart-216
USDC(USDC), daily chart, Source: CoinMarketCap

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.

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TAGGED:HackedNemo ProtocolSui NetworkUSDC

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Avatar for Oladapo Timothy
ByOladapo Timothy
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An expert, trader and writer with extensive experience of digital assets, covering everything related to the burgeoning crypto industry — from price analysis to Blockchain disruption. I have authored more than 2,000 stories for crypto and fintech media outlets. I am particularly interested in regulatory trends around the globe that are shaping the future of digital assets.
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