Cosmos Labs Confirms Cosmos EVM Incident as 3 Chains Disclose Impact

Crypto Insight Summary: Cosmos Labs confirmed an ongoing security incident affecting users of the Cosmos EVM module. It advised chains in contact with it to ask validators to halt block production. Three networks have now disclosed impact. KiiChain and TAC froze their chains after attackers drained accounts, while MANTRA restarted its mainnet. 3 Chains Traced Incidents to Cosmos Crypto Insight Analysis: Direction: Bearish ATOM Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Security incident undermines trust in Cosmos ecosystem, but impact limited to specific chains.