Cosmos
Why Cosmos is down 1.3% in the last hour
Analysis
Cosmos (ATOM) slipped about 1.3% over the past hour as security concerns hit sentiment after reports of EVM-related breaches in the Cosmos ecosystem. CryptoPotato and AMBCrypto both reported that Cosmos Labs/validators urged some EVM chains to halt following attacks tied to KiiChain and TAC, with AMBCrypto noting losses of roughly 148.3M KII.
Contributing Factors (2)
Cosmos Labs Urges EVM Chains to Halt as KiiChain and TAC Attacks Raise Security Fears
According to KiiChain, delayed warnings allowed exposure to continue as attackers drained funds before affected Cosmos EVM networks were halted.
Cosmos requests validators to ‘halt their chains’ after EVM breach: 148.3M KII lost
Multiple Cosmos EVM chains faced different levels of disruption as teams worked to contain the shared security issue.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.