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Nemo Yield Trading

avoid.net/nemo-yield-trading→28/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

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anchored·cPkfxj…VgaN

Summary

Nemo Protocol is a Sui-based DeFi yield trading platform that suffered a $2.6 million exploit on September 7, 2025, caused by an unnamed developer who deployed unaudited code to mainnet while bypassing internal review processes. A security auditor had flagged a related vulnerability 27 days before the attack, which the team acknowledged it failed to address in time. The protocol's TVL has since collapsed to zero and it has been flagged as high-risk by trust intelligence sources.

Connected Entities

1 entities
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□Nemo Yield Trading
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    Timeline(8 events)

    June 2022

    Nemo Protocol's official X account established; project founded.

    January 2025

    Developer submits code to MoveBit auditors without disclosing new unaudited features mixed into the submission. Protocol completes Sui Hydropower Accelerator first cohort.

    11 August 2025

    Security firm Asymptotic issues a C-2 severity warning flagging a vulnerability in Nemo's contract code that allows unauthorized state modification. The developer allegedly dismisses the severity and no fix is deployed.

    7 September 2025

    Exploit occurs at approximately 16:00 UTC. Attacker uses exposed flash loan function combined with flawed query function to drain approximately $2.4-2.6 million from the SY/PT liquidity pool. Stolen assets bridged to Ethereum via Wormhole CCTP. TVL collapses from $6.3M to $1.57M.

    8 September 2025

    PeckShield publicly flags the breach. Nemo Protocol confirms the attack and announces protocol pause. Nemo offers a 10% white-hat bounty to the attacker.

    11 September 2025

    Nemo Protocol releases post-mortem report, attributing the exploit to unaudited code deployed by an internal developer via single-signature address, and admitting the Asymptotic warning was not adequately addressed.

    14 September 2025

    Nemo Protocol announces the NEOM debt token compensation program, issuing one NEOM per dollar lost. Team acknowledges it lacks capital for direct USD reimbursement.

    May 2026

    Social media reports indicate the vault migration was completed and NEOM tokens are claimable. NEOM reportedly trades below its $1.00 peg. Protocol TVL remains at zero.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain18 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (1 event). 18 of 19 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:16 AM

    last updated: 8/30/2026, 3:54:58 AM

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