Hackers hacked the Nomad Blockchain Bridge and stole 200 million

Hackers hacked the Nomad Blockchain Bridge and stole $200 million in cryptocurrency

According to network sources, the Nomad blockchain bridge, which provides transmissions between the Ethereum, Avalanche, Moonbeam, Evmos and Milkomed networks, was subjected to a hacking attack, during which the attackers managed to steal about $200 million in cryptocurrency.

    Image source: Reto Scheiwiller / pixabay.com

Image source: Reto Scheiwiller / pixabay.com

The platform was hacked on August 1, but Nomad officials did not initially confirm the theft of assets, citing the need for a quick investigation. “We are aware of the incident related to the Nomad Bridge. We are currently investigating and will provide new information as it becomes available.”the company said in a statement.

Later, the developers released a recording confirming that the attackers managed to steal digital assets. “We are working around the clock to resolve the current situation and have also notified law enforcement agencies of the incident and brought leading blockchain analysis and expert companies into the investigation. Our goal is to identify, trace and return the funds involved.”— said in the message Nomad.

The hack was reportedly caused by a bug in the code of a recent platform update. Blockchain specialists reported that any user without any programming skills could use this bug to transfer tokens to their account. To do this, it was enough to copy the original transaction data and replace the recipient’s address with your own. According to the source, at the time of the hack, the platform held about $200 million in various cryptocurrencies stolen by hackers.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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