NEMO ignores audit warnings and loses $2.59 million
Source: CoinWorld
Time: 2025-09-11 19:11:16
The NEMO team confirmed that auditors had expressed concerns about access control and smart contract vulnerabilities ahead of the $2.59 million leak in January 2024. The team did not fully implement the recommended fixes, resulting in a critical vulnerability in the liquidity pool mechanism being exploited. Post-even measures include suspension of deposits, suspension of transactions, and spending 10% of the funds on security enhancement. The case highlights the broader challenges DeFi faces in audit reliability and in timely handling problems identified.