nomic

The risks of cross-chain wrapped assets have once again erupted at the source.

The Nomic chain was attacked: the attacker exploited a vulnerability in the custom forwarding mechanism to double-spend nBTC, generating duplicate credentials for the same asset, then moving them into Osmosis for exchange. Osmosis and IBC itself were not affected, but Alloyed BTC collateral includes 39.84 nBTC, about 36% of its collateral.

Action was swift: a governance sub-DAO has paused deposits and withdrawals between Nomic and Alloyed BTC. Validators completed an emergency upgrade and froze 22.65 $BTC in the attacker’s address. The team will follow up with a proposal to confiscate the asset and to use the community fund pool’s remaining BTC to cover the shortfall, restoring Alloyed BTC to full collateralization.

The key issue is not only the attack itself, but why the redemption/settlement layer would passively take on the fake credentials. Until the governance proposal is implemented and the gap is truly filled, redemption liquidity and discount risks for the related synthetic assets still need to be kept in mind.

#Nomic #Osmosis #BTC

After the Nomic incident, Osmosis’s handling speed is worth paying attention to: the attacker exploited a vulnerability in the custom forwarding mechanism to reuse the same asset multiple times, minting counterfeit nBTC credentials and transferring them across to Osmosis for exchange. In essence, this is nBTC double-spending—not that IBC or Osmosis itself was breached.

The exposure is tied to Alloyed BTC: 39.84 nBTC makes up about 36% of its collateral. The governance sub-DAO has paused withdrawals between Nomic and Alloyed BTC. After an emergency validator upgrade, it froze 22.65 $BTC at the attacker’s address.

The key going forward is whether the governance proposal can seize this asset, and whether the community fund pool’s existing BTC can cover the shortfall to restore full collateralization. The bridging logic for cross-chain synthetic assets and collateral isolation still require stricter audits.#Osmosis #Nomic

Cross-Chain Security Rings Another Alarm: Nomic Chain Reportedly Exploited a Vulnerability in Its Custom Forwarding Mechanism to Perform a Double-Spend Attack on nBTC. The attacker repeatedly used the same asset to generate false proofs, then bridged it across to Osmosis for exchange.

The Osmosis and IBC protocols themselves are not affected. The key risk is that 39.84 units of the minted nBTC are held within Alloyed BTC as a synthetic asset, accounting for about 36% of its collateral.

After the anomaly was discovered, Osmosis’ governance sub-DAO paused deposits and withdrawals between Nomic and Alloyed BTC. It also worked with validators to urgently upgrade and freeze 22.65 $BTC from the attacker’s address. The team will then push a governance proposal to confiscate the asset and request the remaining BTC from the community fund pool to cover the shortfall, restoring Alloyed BTC to full collateralization.

Incident Notes: The custom logic at a cross-chain entry point is often more fragile than the underlying transfer protocol. Whether the asset can ultimately be restored depends on the execution of governance and the progress of collateral top-up.

#Osmosis #Nomic #BTC

🚨 $OSMO FREEZES NOMIC DOUBLE‑SPEND ATTACK, SECURES ALLIED BTC BACKING! 🛡️

Osmosis acted with surgical precision, freezing inflows/outflows on the Nomic bridge the moment the double‑spend vector surfaced. 🦈 The emergency upgrade locked 22.65 BTC in the attacker’s address, cutting the liquidity bleed before it could ripple through the IBC ecosystem. 📊

With roughly 36 % of Alloyed BTC’s backing tied up, the DAO’s governance motion to seize the frozen assets and replenish the community pool underscores smart‑money risk mitigation. Expect a short‑term compression in nBTC supply, followed by a potential re‑price as confidence restores. 💬 How will this swift containment reshape the risk‑reward profile for $OSMO liquidity providers? 👇

⚠️ Not financial advice. Always manage your risk. 🛡️

🏷️ #OSMO #Nomic #DeFi #Liquidity #Crypto

🦈 🔥

I built the main foundation that determines price movement right now 📊
▪️ Liquidity incoming: The U.S. Treasury is tripling the bond buyback program to $6 billion. This is a direct injection of dollars that will soon flow into risky assets.
▪️ Institutional breakthrough: The Bundesbank integrates #Zksync Prividium. This is official recognition of Zero-Knowledge ZK technology as the leading global standard for banks.
▪️ Geopolitical detective story: Iran was forced to switch to $BTC and USDT in international trade, creating the risk of a harsh regulatory blow to Tether from the U.S.
▪️ Local calm: BTC holds around $78.3k, $SOL falls by -2.24%. The market is consolidating.
▪️ DeFi vulnerability: A protocol hack #Nomic and the loss of 36% of the collateral on allBTC are a reminder that the decentralized finance segment is still in hackers’ sights.
▪️ Scaling: MetaMask is conducting a restructuring to prepare the infrastructure for a massive influx of capital.

NOM quietly climbed onto the trending list today, and many people may not have noticed this coin 🧐

Nomic Bitcoin (NOM) is a project focused on cross-chain BTC assets. In the past 24 hours, it’s up 7.2%, rising from a low of 0.001513 and climbing steadily to 0.001850—now it has pulled back to around 0.001633.

What’s interesting is that the funding rate is slightly negative (-0.0052%), suggesting there are a bit more shorts in the contracts. However, open interest is 1.79 billion NOM, which isn’t small. This kind of structure—“shorts building up + spot rising”—often makes squeeze conditions more likely in the short term. But since the overall BTC market today doesn’t have a clear direction, whether NOM can keep going still depends on follow-through volume.

For regular users, just watch changes in trading volume. Only when volume expands can you tell that real money is actually entering. “Volume up, volume down” is one of the key signals for judging direction.

No predictions—just for reference. Be sure to manage position risk ⚠️

Click the small card below to quickly check the market 👇

#NOM #Nomic #BTC跨链 #热榜币种 #合约行情