August 02, 2022
Nomad Bridge Loses Almost $200M in a Matter of Hours Due to a Hack
On Monday, Nomad Bridge suffered a massive hack losing $190 million which constitutes almost 100% of its liquidity. It all started with one hacker exploiting the bridge to withdraw 100 WBTC worth of $2.3 million.
Later, numerous other accounts copied the code of the transaction, changed the address and drained the rest of the funds just in a matter of hours, making the incident an enormous decentralized robbery.
An upgrade error reportedly could have been one of the causes of the incident. The Nomad Bridge officials confirmed the exploit and claimed to be investigating the events. In the last 24 hours, many users have come out as whitehat hackers on Twitter and said they plan to give back the funds. The Nomad team has announced the ENS address for returning the stolen assets and promised a 20% bounty.
