News Nexus Mutual CEO Hugh Karp Gets Hacked for $8M



Staff member
Jun 15, 2018
Nexus Mutual CEO Hugh Karp Gets Hacked for $8M
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.

The post Nexus Mutual CEO Hugh Karp Gets Hacked for $8M appeared first on - Online Investment Starts Here.

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