Nomad Bridge Drained of Nearly $200M in Exploit

Aug 02,2022
KingData News: The cross-chain token bridge Nomad was exploited Monday, with attackers draining the protocol of virtually all of its funds. The total value of cryptocurrency lost to the attack totaled near $200 million. The Nomad team acknowledged the exploit in a statement to CoinDesk. "An investigation is ongoing and leading firms for blockchain intelligence and forensics have been retained," the team said. "We have notified law enforcement and are working around the clock to address the situation and provide timely updates. Our goal is to identify the accounts involved and to trace and recover the funds."
On August 2, crypto KOL 0xfoobar posted that the cross-chain solution Nomad had been hacked, and that WETH and WBTC were being transferred out at a rate of millions of dollars each, leaving $126 million in the contract potentially at risk.
25,107Follow
69,636

Recommend

More