Gnosis Pay Hit by 'Delay Module' Exploit as Gnosis Pledges to Cover User Losses - "The Defiant"

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Gnosis Pay, the self-custodial Visa debit card built on Gnosis Chain that lets users spend stablecoins directly from their own Safe wallets, was hit by an active exploit targeting the "delay module" that controls its card accounts, co-founder Martin Köppelmann said in a post on X on Monday.

Gnosis said it would cover any losses in full. "Rest assured, Gnosis will cover all user losses," Köppelmann said. The company has not said how much was taken or how many accounts were affected, and has not published a technical breakdown of the attack.

GNO, the token of the broader Gnosis ecosystem, traded around $118 on Monday, down about 2.8% over 24 hours even as the broader crypto market edged up roughly 0.8% over the same period, according to data from CoinGecko.