Namada Investigates Protocol Exploit as On-Chain Data Shows ATOM Transfers via IBC

Namada said it is investigating a protocol exploit and has contacted relevant parties to assist with the response. According to Odaily, the team said that if the operator behind the incident is a white-hat hacker, it hopes the person will proactively contact Namada to help clarify the vulnerability and support a fix. On-chain data indicated that some ATOM assets linked to the incident were suspected to have been transferred via IBC (Inter-Blockchain Communication) to a Cosmos Hub address. Tracking data showed the address received about 228,517 ATOM on June 18, and the funds were then emptied within hours through IBC transfers and multiple outbound transactions, leaving only a small remaining balance. As of now, Namada has not disclosed the vulnerability type, the attack method, or the scale of losses, and the investigation is ongoing.