Crypto: $ 190 million hacked on Nomad Bridge!

Very soon we learned that Nomad Bridge was the subject of a cyber attack that cost it the disappearance of all its assets. Some $ 190.7 million worth of cryptocurrency has sometimes gone up in smoke. To say that this bridge allows the transfer between Ethereum, Avalanche, Moonbeam, Evmos and Milkomeda C1.

Nomad Bridge has been stripped of almost all of its cryptocurrencies

If there are things that weaken cryptocurrencies, volatility and hacking are among them. If price volatility has already made investors miserable, stealing the assets of promising crypto projects like Axie Infinity would please no one.

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

In fact, Watcher Guru told us about the theft of around $ 190 million from the bridge wallet. crossed chain Nomad this morning. Bad luck for the investors and developers of the project who hoped to wake up on the right foot on this day of August 2nd.

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

Official information repeatedly speaks of an attack. First, there was a withdrawal of 100 Wrapped Bitcoin (equivalent to $ 2.3 million) from Nomad Bridge yesterday around 9:00 UTC.

But the general alert was not issued until 23:18 UTC. This is after seeing hundreds of cryptocurrency transfers, again from the Nomad Bridge.

Moonbeam (GLMR), a platform for smart contractwas the first to react to this transfer.

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

What is worrying in this story is the fragility of the bridges. A few lines earlier, we mentioned the attack suffered by Axie Infinity (AXS), facilitated by an intrusion into Ronin Bridge. Three months later, we still have to contend with a new bridge escalation that has resulted in heavy losses of hundreds of millions of dollars. Here is a meditation topic for bridge developers in the cryptocurrency universe.

Source: Observer Guru

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Mikaia ANDRIAMAHAZOARIMANANA avatar

Mikaia ANDRIAMAHAZOARIMANANA

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

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