Cosmos Labs Says EVM Module Exploit Caused $5.72M in Losses Across Six Chains
AI Market Summary
Cosmos Labs reported a $5.72M loss after attackers exploited a Cosmos EVM module vulnerability (Aug 20–25), impacting six Cosmos-based networks and forcing coordinated risk assessment and mitigations across ~40 chains. Funds were bridged and liquidated via DEXs and CEXs, with attacker CEX accounts reportedly frozen. The incident highlights cross-chain smart contract security and operational risk, despite rapid patching across 13 additional at-risk networks.
Impact level
● High
Affected assets
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▼ Bearish
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Cosmos Labs on Aug. 30 (UTC+8) published an incident report detailing an exploit affecting its EVM module. The firm said that between Aug. 20 and Aug. 25, attackers abused a Cosmos EVM vulnerability to siphon funds from multiple Cosmos-based chains.
Following the first alert from MANTRA, Cosmos' security team coordinated with about 40 chains to evaluate exposure and roll out mitigations. Six networks were ultimately confirmed compromised. Roughly $2.87 million in assets were bridged out and sold on decentralized exchanges, and another $2.85 million was sold via centralized exchanges.
Cosmos Labs said the centralized exchange accounts used by the attackers have been frozen and investigations are continuing. It added that 13 additional networks considered at risk were quickly patched, halted, or otherwise secured, avoiding further losses. The vulnerability had been reported through a bug bounty program as early as April 25. (Source: ODAILY)
