PANews reported on September 15th that according to The Block, Nemo Protocol, a yield trading platform based on Sui, recently launched a debt token compensation plan following an exploit. The plan centers on issuing NEOM tokens equivalent to users' dollar losses. Nemo stated that while it would have preferred direct compensation in US dollars, it lacked sufficient funds, hence the debt token strategy. The goal is to ultimately recoup users' principal losses, based on an on-chain snapshot taken at the time of the protocol's suspension. The protocol has a three-step recovery plan: first, users will be able to access a dedicated portal to migrate the remaining value of the compromised pool to a new contract, receiving an equivalent amount of NEOM tokens during the migration. Token holders can choose to exit through an automated market maker (AMM) pool or retain their tokens and other funds for recovery. Nemo also plans to launch a liquidity pool on Sui's main DEX to facilitate user exits. All recovered funds will be deposited into a redemption pool for claiming, with some external funds also allocated to the pool for support.
Previously, on September 7th, Paidun first disclosed that $2.6 million had been stolen from the Nemo Protocol pool by an attacker. The attacker exploited a vulnerability in the developer-introduced code that had been deployed without proper auditing.





























