Monitored by Woofun AI, Namada officially confirmed that its privacy-focused public chain protocol encountered a security vulnerability incident. The development team has initiated an investigation and engaged relevant parties to assist in mitigating the situation. Officials indicated that if the operator responsible for the exploit is a white hat hacker, they are encouraged to proactively contact the team to facilitate a resolution and further clarify the nature of the vulnerability.

On-chain data reveals that approximately 228,517 ATOM was transferred to a Cosmos Hub network address via the Inter-Blockchain Communication (IBC) protocol on June 18. These funds were subsequently drained within hours through multiple outgoing transactions and IBC transfers, leaving only a negligible balance in the recipient address. As of now, Namada has not disclosed the specific type of vulnerability, the precise attack methodology, or the final scale of losses, with the investigation remaining ongoing.