🚨 TAC just got hit by a $7.5M exploit.
Layer 1 blockchain TAC confirmed that an attacker exploited a vulnerability in the Cosmos EVM precompile layer, stealing approximately $7.5M worth of assets from a single account.
The attacker reportedly moved around 2.986B TAC tokens from a custody account.
The important part:
⚡ No new TAC tokens were minted.
⚡ The exploit was limited to TAC tokens.
⚡ Other assets were reportedly not affected.
⚡ TAC halted the network at block 24,671,475.
⚡ Transactions and deposits/withdrawals were frozen.
⚡ The team is working with exchanges to trace the stolen funds.
This is also not the first time the Cosmos EVM module has been linked to a similar incident.
Different chain. Same weak point. 💀
I think the biggest takeaway here isn’t just the $7.5M loss.
It’s the fact that an EVM compatibility layer can become a single point of failure across an entire blockchain ecosystem.
One vulnerable module.
One exploit.
Millions gone.
And suddenly:
“Decentralization” meets the emergency pause button. 😭
Do you think the fact that TAC had to stop the entire network to handle the exploit has made people lose trust in chains that use Cosmos EVM? 👀
$TAC #Cosmos #evm #defi
Layer 1 blockchain TAC confirmed that an attacker exploited a vulnerability in the Cosmos EVM precompile layer, stealing approximately $7.5M worth of assets from a single account.
The attacker reportedly moved around 2.986B TAC tokens from a custody account.
The important part:
⚡ No new TAC tokens were minted.
⚡ The exploit was limited to TAC tokens.
⚡ Other assets were reportedly not affected.
⚡ TAC halted the network at block 24,671,475.
⚡ Transactions and deposits/withdrawals were frozen.
⚡ The team is working with exchanges to trace the stolen funds.
This is also not the first time the Cosmos EVM module has been linked to a similar incident.
Different chain. Same weak point. 💀
I think the biggest takeaway here isn’t just the $7.5M loss.
It’s the fact that an EVM compatibility layer can become a single point of failure across an entire blockchain ecosystem.
One vulnerable module.
One exploit.
Millions gone.
And suddenly:
“Decentralization” meets the emergency pause button. 😭
Do you think the fact that TAC had to stop the entire network to handle the exploit has made people lose trust in chains that use Cosmos EVM? 👀
$TAC #Cosmos #evm #defi