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Crypto: 190 million dollars hacked on Nomad Bridge!

tue 02 August 2022 ▪ 10:00 am ▪

3
min reading – per
Mikaia ANDRIAMAHAZOARIMANANA

Very early in the morning, we learned that Nomad Bridge was the subject of a cyber attack costing it the disappearance of all its assets. About $190.7 million in cryptocurrency went up in smoke on occasion. Say that this bridge allows the transfer between Ethereum, Avalanche, Moonbeam, Evmos and Milkomeda C1.

$190 million hackés on Ronin Bridge

Nomad Bridge deprived of almost all of its crypto assets

If there are things that weaken cryptocurrencies, volatility and hacking are among them. If the instability of prices has already made unfortunate people on the side of investors, the siphoning of the assets of crypto projects as promising as Axie Infinity would not satisfy anyone.

The wounds caused by these hacking stories have still not healed and now we are exposed to a new similar case, that of Nomad Bridge.

Indeed, Watcher Guru told us about the theft of about $190 million from the bridge’s wallet cross-chain Nomad this morning. No luck for the investors and developers of the project who hoped to wake up on the right foot on this day of August 2.

The 190.7 million stolen include a good dozen cryptocurrencies, including Saddle DAO (SDL), Charli3 (C3), Wrapped Bitcoin (WBTC), USD Coin (USDC), Dai (DAI, IAGON (IAG), etc.

Official information speaks of an attack on several occasions. First, there was a withdrawal of 100 Wrapped Bitcoin (the equivalent of $2.3 million) from Nomad Bridge, yesterday around 9am UTC.

But the general alert was not launched until 23:18 UTC. This after seeing hundreds of transfers of crypto assets, always from the Nomad bridge.

Moonbeam (GLMR), a platform for smart contract, was the first to react to this siphoning.

As a solution, its administrators decided an investigation into the incident and also a maintenance. As a result, these users will have to wait for a while before enjoying Moonbeam’s features again.

What worries in this story is the fragility of the bridges. A few lines above, we mentioned the attack that Axie Infinity (AXS) had suffered, and which was facilitated by an intrusion into Ronin Bridge. Three months later, we still have to deal with a new bridge escalation resulting in heavy losses amounting to hundreds of millions of dollars. This is a subject of meditation for bridge developers in the crypto universe.

Source : Watcher Guru

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

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