BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Nomad Bridge Hacked for $190 Million

by BlockNews Team
August 2, 2022
in CRYPTO
Reading Time: 2 mins read
A A
1
SHARES
16
VIEWS
Share on XShare in TelegramShare on Reddit

August 2022 did not start well for the crypto firm Nomad. As the series of hacks continue in the DeFi space, a new case of breach happened in the Nomad bridge. Considered the worst hack to date, the attackers drained the bridge immediately once they managed to activate the exploit.

However, unlike most attacks, the Nomad bridge hack did not use a complex heist. 

It happened in the first week of August, when the illicit transaction happened at 9:32 am, UTC.

Nomad saw removal of 100 Wrapped Bitcoins (WBTC) – roughly around $2.3 million. Soon after, the attack continued until the community reported the breach. 

Another Hack but a Rare Kind

The hack possessed hundreds of addresses that yielded coins from the bridge. The attackers then deleted all the tokens in a rather uncommon fashion; taking out equal-valued tokens through 200 transactions. It equated to an estimate of $202,440.73 per transfer.

A researcher from crypto firm Paradigm named Samczsun tweeted updates about the smart contracts on Nomad made during the hacking event.

The smart contracts were tainted with fake transactions, forcing users to take out money from the bridge that was not theirs.

This naturally caused panic in the community although a person claiming to be a white hacker said he will return the funds to all affected users. He said he has not swapped assets even if it is possible for USDC transfers to freeze. He only waits for the official reply from the Nomad team.

Possible Cause of Attack

The multiple hacks resulted in an unofficial $190 million loss, making it one of the worst and most chaotic DeFi hacks since the Axie Infinity heist. The number was based on the wrapped assets lost such as wETH, wBTC, and USDC. Security analysts on social media picked up the trail and announced the breach on Twitter during the time of the hack (August 1, 2022). 

Samczsun said that hackers exploited the Replica contract system –  a mechanic exclusive in Nomad wherein users can do small deposits to the bridge and receive money back.

However, the hack compromised this and allowed larger money withdrawals, giving users an amount that can make their jaws drop. Had the security applied better Solidity defense, it would have been averted. However, DeFi exploiters use this system and copy-pasted the exploit around the bridge. 

Tags: cryptoHack
TweetShareShare
Previous Post

Binance US Will Delist AMP Due to Potential Regulation

Next Post

DREAMY NFT

DON'T MISS THESE! HOT OFF THE PRESS

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape
CARDANO

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
Load More

Related News

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.