Cosmos
Why Cosmos is down 1.3% in the last hour
Analysis
Cosmos (ATOM) slipped 1.3% over the past hour as security concerns weighed on sentiment following reports of EVM-related breaches in the Cosmos ecosystem. CryptoPotato reported Cosmos Labs urging EVM chains to halt after attacks involving KiiChain and TAC, while AMBCrypto noted validators were asked to pause chains after an EVM breach tied to a reported 148.3M KII loss—news that likely prompted short-term risk-off selling in ATOM.
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.