NXRA Token Contract Reactivated After Hack, On-Chain Transactions Resume
CryptoNewsTerminal Staff09 Aug, 2024
NXRA Token Contract Reactivated After Hack, On-Chain Transactions Resume
Reactivation of the NXRA token contract was announced by Nexera, a decentralized finance platform, following a recent smart contract exploit that resulted in the loss of $1.76 million worth of NXRA (47 million NXRA). On-chain transactions have resumed, according to Nexera. The exploit, which took place on January 19, 2023, involved the theft of NXRA tokens from the platform's liquidity pool. Nexera immediately suspended on-chain transactions and launched an investigation into the incident. The reactivated NXRA token contract has implemented additional security measures to prevent similar exploits in the future. Nexera has advised token holders to exercise caution and only interact with verified smart contracts. The NXRA token is a BEP-20 token that powers the Nexera ecosystem. It is used for staking, governance, and accessing various DeFi products and services on the platform. The reactivation of the NXRA token contract is a significant step towards restoring confidence in the platform. Nexera has stated that it is committed to providing a secure and reliable environment for its users.
