Cosmos EVM Vulnerability Leads to $6 Million Exploitation Across Six Networks
- A vulnerability in the Cosmos EVM was exploited on six networks, including MANTRA, resulting in losses of approximately $5.72 million.
- Attackers converted about $2.87 million through decentralized exchanges and an estimated $2.85 million via centralized platforms.
- The largest impact was on MANTRA, where roughly 720.9 million tokens were moved without authorization, valued at around $3.6 million pre-incident.
- The vulnerability had been reported to Cosmos Labs on April 25 but was misjudged as low-risk until August.
- Following the exploitation, Cosmos Labs contacted over 40 networks to patch vulnerabilities and prevent further attacks.
The incident has prompted a reevaluation of security protocols within the Cosmos ecosystem, highlighting the need for improved vulnerability assessment processes.
As a result of this breach, MANTRA’s token price fell significantly before recovering slightly by about 14% post-incident.(Source)
