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Nexus Mutual founder and chief executive officer Hugh Karp\u2019s personal wallet address has been hacked for more than $8 million.<\/strong><\/p>\n The attacker, a member of the Nexus defi protocol, tricked<\/a> Karp into signing a transaction that transferred funds to the hacker\u2019s own address. The attacker gained remote access to Karp\u2019s computer and modified his Metamask extension.<\/p>\n Some 370,000 Nexus Mutual (NXM) tokens, worth about $8.25 million on Monday, were stolen from Karp\u2019s personal wallet address, as a result.<\/p>\n In a tweet<\/a>, Nexus Mutual said the hack, which happened the morning of Dec. 14, was a \u201ctargeted personal attack on Hugh\u201d. Karp described the attack as a \u201cvery nice trick,\u201d and \u201cdefinitely next level stuff.\u201d He pleaded<\/a>:<\/p>\n You\u2019ll have trouble cashing out that much NXM. If you return the NXM in full, we will drop all investigations and I will grant you a $300k bounty.<\/p>\n<\/blockquote>\n Nexus Mutual is unaffected by the hack nor are any members victims for this scam. The protocol said the hacker completed their know-your-customer (KYC) processes 11 days ago and then switched membership to a new address on December 3.<\/p>\n Nexus added that an investigation is ongoing to identify the attacker and how they operated. The team at Nexus said the stolen funds are being held at this address<\/a>, and the attacker has already started exchanging some via 1Inch Exchange.<\/p>\n Meanwhile, the attacker reportedly cashed out up $2.7 million of his loot on Tuesday, according to blockchain analytics firm Scorechain. The hacker made several swaps of the stolen NXM on Uniswap via 1Inch Exchange, giving them roughly 137 BTC<\/a> valued at $2.7 million at current market prices..<\/p>\n What do you think about Hugh Karp\u2019s hack? Let us know in the comments section below.<\/strong><\/em><\/p>\n The post Defi Protocol Founder Tricked, Hacked for $8 Million in Personal Funds<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n\n