Hacking News
CertiK Flags $820K Exploit in NEM Token’s PancakeSwap Liquidity Pool
Security firm CertiK has flagged an exploit targeting the $NEM token on PancakeSwap, resulting in losses estimated at approximately $820,000. The attack was caused by a logic flaw in the NemTokenV2 smart contract, which incorrectly tracked token transfers as sell volume. The attacker repeatedly sent NEM tokens into the liquidity pool, causing the pool to overstate its reserves and artificially inflate the token's price. The stolen funds were then bridged to Ethereum.