Nexara Faces $1.8 Million Security Breach Amidst NXRA Token Collapse

Nexara Suffers $1.8 Million Exploit

Nexara, a blockchain infrastructure protocol specializing in tokenization, has recently fallen victim to a significant security breach, resulting in the theft of approximately $1.8 million. This alarming incident was reported by the crypto security firm Cyvers, which has been actively investigating the exploit.

In an announcement made on the social media platform X, the company, which was previously known as AllianceBlock, informed its community that it is diligently working to assess the situation. As a precautionary measure, the NXRA token contract has been paused, and trading activities on decentralized exchanges have been halted.

Nexara is also in communication with various centralized exchanges to ensure that trading is suspended on their platforms as well. Following the exploit, the price of the NXRA token has plummeted to $0.036, reflecting a steep decline of 40% since the incident was reported, according to data from CoinMarketCap.

Blockchain investigator ZachXBT revealed on Telegram that the individual behind the exploit is linked to a series of recent incidents involving compromised private keys. These incidents include breaches at SpaceCatch, Concentric Finance, OKX DEX, Serenity Shield, and Reach.

According to data from Zapper, the attacker currently possesses 32.5 million NXRA tokens, valued at approximately $1.23 million, along with $555,000 in Tether’s USDT stablecoin. The situation remains fluid as Nexara continues to navigate the aftermath of this exploit.