Loss of approximately 820,000 USD, NEM token contract attacked

Odaily News: The NEM token contract NemTokenV2 was attacked, resulting in a loss of approximately 820,000 USD. The attacker exploited a vulnerability in the contract where redemption settlement results were not verified. After transferring tokens into the liquidity pool, they repeatedly executed skim() and flushLpSellRecycle() operations 42 times, continuously suppressing the liquidity pool reserves, and then sold the remaining NEM at an inflated price to extract USDT. This attack involved the USDT/NEM trading pair on PancakeSwap.