Nemo Protocol Sui Exploits for $2.4M: Is Your Crypto at Risk?

Nemo Protocol Sui Exploit Sparks Crypto Safety Concerns Worldwide

Nemo Protocol Sui has become the latest target in the long list of crypto attacks. On Sunday, the DeFi yield-trading platform was exploited for $2.4 million in stablecoins (USDC). Security firm PeckShield first flagged the issue, reporting that the attacker moved stolen USDC from Arbitrum to Ethereum.

Source: X

At 3:27 a.m. ET Monday, the team confirmed the exploit in its Telegram channel. The platform suspended all smart contract activities and announced an active investigation. Nemo clarified that vault assets remain safe, though the exact cause of the breach has not yet been revealed. Interestingly, before the exploit, it had already informed users about scheduled maintenance on its app for Monday and Tuesday.

Another Day, Another Crypto Scam: Is Digital Finance Truly Safe?

The Nemo Protocol exploit news once again raises the same question—is crypto safe to invest in? Over the past year, multiple platforms have faced major security failures. The Bybit hack cost $1.5 billion, CoinDCX hack news created fear in Indian markets, and the kinto shutdown news came right after a $1.6 million exploit. Even giants like Coinbase were not spared, with a $44 million loss, while WazirX faced a $235 million breach.

These incidents reveal how hackers and scammers find loopholes in codes and systems. Until these vulnerabilities are fixed, the digital world will continue to see regular attacks that shake investor confidence.

Nemo Faces Losses While Venus Rewards Its Customers in Crisis

While Nemo Protocol news highlights losses, other platforms show how user safety can be prioritized. After its $1.6 million exploit, Kinto decided to shut down, leaving its users uncertain. In contrast, Venus Protocol phishing investigations ended positively for some customers. Recently, Venus confirmed that a user named @KuanSun1990 received back positions worth $11.4 million after checks were completed.

Source: X

This comparison shows two sides of the industry: one where projects collapse after an attack, and another where platforms try to protect users even in tough times. 

Can Artificial Intelligence Make the World of Crypto More Secure?

The rising number of hacks has also sparked debates on solutions. In a CZ Binance Tweet, the former Binance CEO hinted at AI’s role in building safer crypto systems. He said, “AI companion is a big and growing field. Users are willing to pay too. Let's bring them to digital assets, or vice versa.”

Source: X

AI technologies can actually assist. They can track transactions in real time, raise alarms on suspicious wallet activity, and anticipate the possible exploits ahead of time. AI-based automated audits can audit smart contracts and detect vulnerabilities that may go unnoticed to human teams. In the long run, such technology has the potential to rebuild confidence and make the system secure.

Conclusion

The Nemo Protocol Sui hack is a wake-up call that although blockchain provides innovation, it's by far very vulnerable. From the Nemo Protocol hack to the Bybit hack and kinto shutdown news, attacks keep jolting investor confidence. With settling in the form of AI and more strict platform policies, the industry can work towards security. Until then, though, the question lingers—is crypto safe to invest in or still risky?

Disclaimer: This is for educational purposes only. Always do your own research before any crypto investment.