Bearish
Cosmos Labs admits to misjudging EVM bug, leading to $5.7M six-chain hack
Cosmos Labs acknowledged that a critical vulnerability in Cosmos EVM, reported in April, was incorrectly assessed as non-threatening to live networks. This misjudgment allowed attackers to exploit the flaw across six blockchains between August 20 and August 25, resulting in approximately $5.7 million in stolen funds. The incident underscores the importance of thorough security assessments and timely patching in blockchain ecosystems.
Key points
- Cosmos Labs' premature clearance of a critical EVM vulnerability led to a $5.7 million hack across six blockchains.
- The exploit involved an integer underflow bug, allowing attackers to manipulate token balances across affected chains.
- The stolen funds were laundered through decentralized and centralized exchanges, with some accounts frozen pending investigation.
Sources
- Cosmos Labs says it wrongly cleared the bug behind a $5.7 million six-chain hackThe Block · August 29, 2026
- Cosmos EVM Bug Cleared Before $5.7M Six-Chain HackCryptoDaily · August 30, 2026
- Cosmos-based Gravity Bridge drained of $5.4 million in suspected key compromise, researchers sayThe Block · May 30, 2026
AI-generated from public news sources. Not financial advice.
