cosmosevm

🚨 MANTRA has frozen its blockchain following a Cosmos EVM incident, with validators instructed to keep mainnet nodes offline pending an official restart. The token has hit a new low amid the disruption. This suspension raises concerns about network reliability and could pressure short-term sentiment until operations resume. Is the freeze a necessary safeguard—or a sign of deeper instability? #MANTRA #CosmosEVM

🔎 NES Hack & Migration — What I Found

I’ve been investigating the recent NES (Nesa) incident and found some interesting on-chain evidence.

On August 24, Nesa reported malicious activity involving an L1 vulnerability and said they were working on a fix and recovery.

I found:
🔴 Old side: ~62.904M NES was sent to the Null Address, effectively removing the tokens.

🟢 New Ethereum contract: ~62.904M NES was minted from the Null Address → Gnosis Safe.

The amounts are extremely close, and that Gnosis Safe now holds around 62.9M NES.

This makes the migration/recovery theory very interesting:
Exploit → liquidity isolated → old supply removed → new Ethereum contract → corresponding NES created → Gnosis Safe → new liquidity rebuilt → exchanges migrate → trading resumes.

I’m also seeing new NES/USDT & NES/USDC pools and activity through Uniswap V4, LI.FI and DEX aggregators, showing that the new ecosystem is being rebuilt.

⚠️ However, I’m not saying everything is fixed yet.
The biggest confirmation will be when users can:
BUY → SELL → DEPOSIT → WITHDRAW
normally again, with healthy liquidity.

For now, the matching ~62.9M NES movements are the biggest clue I’ve found.

I’ll keep watching the wallets, liquidity and migration activity.
DYOR. Not financial advice.

#NES #Nesa #Ethereum #DeFi @CZ #CosmosEVM