Nexus Mutual, a DeFi mutual-insurance project, has attracted $2.7 million in funding for further protocol development through the sale of its native NXM tokens. CoinDesk reports.
Strategic investor Collider Ventures contributed to the round. The round also included Blockchain Capital, Version One, Dialectic and other major investors.
Nexus Mutual plans to reach users of existing cryptocurrency exchanges and custodians, including Coinbase, Binance, Kraken and Gemini.
In December 2020, a hacker drained from the founder’s personal wallet more than $8 million in NXM tokens from Nexus Mutual founder Hugh Karp. To do this, the hacker installed on the project’s CEO’s computer a compromised version of the MetaMask application, which deceived him into approving the transaction.
Later the attacker demanded from Karp a ransom of 4,500 ETH.
In February 2021, venture firm Paradigm led the Series A round for the DeFi options platform Opyn at $6.7 million.
In the same month, Balancer Labs raised $5 million from Three Arrows Capital and DeFiance Capital through a direct sale of BAL tokens.
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