- Jun 15, 2018
Cybercriminal stole $8 million from the wallet of Hugh Karp, the founder and CEO of Nexus Mutual platform on Monday morning. The haccker’s profit amounts to 370,000 NXM, worth $8.2 million. The hacker managed to install a MetaMask compromissed version that tricked Karp to sign a transaction that redirected all his NXM tokens to hacker’s wallet. According to Nexus Mutual, Karp was using a hardware wallet. However, the attacker circumvented the protection by replacing a legitimate transaction with his own. The hacker already began converting the tokens to Ether (ETH), with a total balance of 354 ETH worth more than $200,000.The attacker was not fully identified though, with investigations still pending. In order to receive NXM tokens, the attacker needed to be a verified member of the mutual, though he/she could have committed identity fraud. Karp complemented the hacker for performing a “very nice trick.” He offered a $300,000 bounty for returning the tokens, arguing that the hacker would have trouble in converting the NXM into more liquid forms of money.
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