MIM_Spell Launches on Nibiru Chain with Full Suite of DeFi Services

A security vulnerability hit Abracadabra's deprecated V4 cauldrons on Ethereum, allowing an attacker to mint **1.79 million MIM tokens**. **Quick Response** - DAO Treasury immediately identified and mitigated the vulnerability - Bought back all affected MIM from the market - **No user funds were lost** during the incident **Current Status** - Attack effects have been **completely reversed** - Cauldron borrowing temporarily disabled for code review - All systems remain stable **Investigation Ongoing** - Bug bounty offered for information leading to hacker identification - Team reviewing codebase before future deployments - [Transaction details](https://etherscan.io/tx/0xbaede1ddbab71fb48d25139e720356d8c487d47ce4b94aaf683969dc1fb1c984) available on Etherscan This marks another security incident for the protocol, which faced similar exploits in early 2024 affecting V3 and V4 cauldrons.

Abracadabra DAO has expanded its cross-chain capabilities by launching SPELL token support on the Nibiru beam bridge. This integration enables users to seamlessly transfer SPELL tokens between Ethereum, Nibiru, and other supported blockchain networks. The expansion follows the successful launch of MIM (Magic Internet Money) on Nibiru Chain in May 2025, which introduced omnichain stablecoin functionality using LayerZero technology. Key Features: - Direct token transfers without wrapping - Cross-chain compatibility - Enhanced capital efficiency - Simplified user experience Users can access the beam bridge at [Abracadabra's Beam Portal](https://app.abracadabra.money/#/beam)

Abracadabra's MIMSwap has launched on Nibiru Chain, introducing their stablecoin AMM technology to the ecosystem. The platform offers: - Low-slippage trading specifically optimized for stablecoins - Capital-efficient swap mechanisms - Integration with Nibiru's high-performance DeFi infrastructure This follows the recent $MIM token launch on Nibiru via LayerZero's Beaming technology, enabling cross-chain transfers with networks like Ethereum and Arbitrum. The team plans to introduce new liquidity provision opportunities and expand omnichain integrations. To access MIM on Nibiru, users can utilize the [Beam portal](https://app.abracadabra.money/#/beam) for seamless cross-chain transfers.

Abracadabra Money's $MIM stablecoin has officially launched on Nibiru Chain, featuring seamless cross-chain transfers via LayerZero's Beaming technology. Key features: - Direct transfers between Ethereum, Arbitrum, and other chains - No wrapping or bridging required - Enhanced capital efficiency through omnichain functionality How to use: 1. Visit [Beam portal](https://app.abracadabra.money/#/beam) 2. Select source chain 3. Choose Nibiru as destination 4. Connect wallet and initiate transfer This integration follows a community proposal from December 2023 that outlined infrastructure deployment plans for both $MIM and MIMSwap on Nibiru Chain.