Crypto: 190 million dollars hacked on Nomad Bridge!

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

Nomad Bridge stripped of almost all of its crypto holdings

If there are things that weaken cryptocurrencies, volatility and hacking are among them. If price instability has already made investors unhappy, siphoning the assets of crypto projects as promising as Axie Infinity would not please anyone.

The wounds caused by these stories of hacking 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 around $190 million from the bridge’s wallet. cross 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 2.

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

But the general alert was not issued until 23:18 UTC. This after seeing hundreds of crypto asset transfers, always from the Nomad Bridge.

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

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

What worries in this story is the fragility of the bridges. A few lines earlier, we mentioned the attack suffered by Axie Infinity (AXS), 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. Here is a subject of meditation for bridge developers in the crypto universe.

Sources: Watcher Guru

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Mikaia ANDRIAMAHAZOARIMANANA

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