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Usha Yadav
Aug 3, 2022
by Usha Yadav

Hackers Transferred $9 Million to Nomad After Cross-Chain Bridge Exploit

Nomad

Table of contents

  1. Chaotic Copy Paste Attack Cost Nomad Bridge $190 Million
Hackers sent $9 million back to Nomad Bridge one day after its vulnerability was exploited for $190.38 million. PeckShield, a blockchain security business, reported that $9 million, or around 4.75% of the total loss, had so far been recovered. The protocol asked for "white hat hackers" and allowed users to transfer tokens from Ethereum to other chains like Evmos and Moonbeam.

Anchorage Digital, a cryptocurrency custodian, will manage and protect the recovered assets. Stablecoins made up most of the returned money, with $3.78 million USDC and $2 million USDT coming from multiple addresses.

Chaotic Copy Paste Attack Cost Nomad Bridge $190 Million

Nomad Bridge confirmed that it was aware of an ongoing exploit in the early hours of August 2nd. Within hours, the $190 million budget for the protocol drained. Nomad acts as a bridge between Ethereum, Avalanche, Milkomeda, and Moonbeam for cross-chain transfers.

After the widely publicized attacks on the Ronin Bridge, Wormhole, and Harmony, Nomad Bridge is the most recent token bridge that got targeted this year. Following Nomad's disclosure of the complete list of investors in its $22 million seed round, led by Polychain Capital and included investors including Ethereal Ventures, Hack VC, Coinbase Ventures, and Crypto.com Capital, the hack occurred just a few days later.

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Hackers Transferred $9 Million to Nomad After Cross-Chain Bridge Exploit
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.