Bitcoin$ 24,112.46 0.87%
Ethereum$ 1,899.05 1.74%
Cardano$ 0.560536 1.83%
XRP$ 0.372595 2.10%
Solana$ 43.95 2.63%
Polkadot$ 8.83 1.56%
Polygon$ 0.960347 3.97%
LINK$ 46.90 1.84%
Litecoin$ 60.54 4.73%
Avalanche$ 27.77 2.04%
Uniswap$ 8.48 4.81%
Aave$ 107.83 0.70%

Nomad Bridge Hacker Returns $9 Million of Stolen Funds

The hack exposed the issues in the decentralized financial sector - again.
Nomad Bridge Hacker Returns $9 Million of Stolen Funds, hacker as featured image

Almost $190 million in cryptocurrency was taken off the Nomad Bridge by hackers this morning.

 

WBTC, WBTC Wrapped Ether, USD Coin, Frax, Covalent Query Token, Hummingbird Governance Token, and Card Starter were included, according to reports. As compared to past attacks, this one saw hundreds of crypto addresses receive money from the bridge, making it one of the most violent hacks in history.

Rising Hacking Attempts Huge Concern

Later in the day, a post from the Nomad’s official Twitter account explicitly requested that white-hat hackers/ethical researchers transfer back the drained assets to an Ethereum-based wallet address.

 

Because of their partnership with custodian bank Anchorage Digital, Nomad is able to accept and preserve Ethereum [ETH] as well as the Ethereum Classic Token (ERC-20). Details about the hackers remain a mystery. On the other hand, Nomad disclosed that it uses a leading chain analysis/intelligence service to track the movement of funds and identify the recipient wallets.

 

Multiple addresses returned $9M that was stolen. An investigation by PeckShield has shown that a majority of the stolen funds are still held in three primary addresses. It was just few days after hackers targeted the Nomad bridge protocol that the Solana ecosystem was assaulted on Wednesday, resulting in the compromise of thousands of wallets. It is yet unclear who is behind the hack on over 8k online hot wallets.

 

In the wake of Monday’s Nomad security breach, Solana’s troubles are more further compounded. According to a June study by forensics company Elliptic, more than $1 billion has already been stolen from bridges this year.

 

Image by Peace,love,happiness from Pixabay

Edward Nored

Edward Nored

Edward is a naturally curious BTC lover with a deep interest in blockchain, fin tech, fields which he dedicates his time to researching.

SPONSORED STORIES

Don’t worry, we hate spam too

one weekly digest, just the important stuff.

btcnewsletter

“Those who believe in Bitcoin also believe in cleverness." – Arif Naseem