PANews, June 20 – The privacy-focused public chain project Namada has officially issued a statement confirming that a vulnerability exploit incident occurred. The project team has launched a comprehensive investigation and is coordinating with multiple security agencies to handle the situation.

The official statement indicated that if the operator behind this incident is a white-hat hacker, they are welcome to proactively contact the project team, cooperate in disclosing the vulnerability details, and work together on vulnerability remediation and risk mitigation.

On-chain monitoring data shows that ATOM assets related to this attack were transferred via an IBC cross-chain channel to an address on Cosmos Hub. The address received 228,517 ATOM on June 18, and the funds were fully transferred out within a few hours through multiple IBC transfer operations, leaving only a small balance in the wallet.

As of now, Namada has not yet publicly disclosed the cause of the vulnerability, the attack execution path, or the specific amount of asset losses caused by this attack. All related investigation efforts are still ongoing, and the complete investigation conclusions will be disclosed subsequently.