Hackers drain Nomad token bridge of $190M

LAGOS (CoinChapter.com) — Cross-chain messaging protocol Nomad is the latest blockchain platform to suffer exploitation.

In detail, roughly $190.7 million was stolen from the Nomad token bridge as hackers drained all the funds locked on the network. As a result of this hack, Nomad’s TVL fell to about $4,500 from $190 million, data from DeFi Llama shows.

The first illicit transaction occurred around 9:32 pm UTC when the hacker removed 100 Wrapped Bitcoin ($2.3M tokens) from the bridge. Twitter user @samczsun, who initially alerted the community about the exploit.

Notably, tokens stolen during the exploit include WBTC, Wrapped Ether (WETH), USD Coin (USDC), Frax (FRAX), Covalent Query, and CQT. Others include Hummingbird Governance Token (HBOT), IAGON (IAG), DAI, GeroWallet (GERO), Card Starter (CARDS), Saddle DAO (SDL), and Charli3 (C3).

We Are Currently Investigating, Says Nomad

Nomad said that they are still investigating the incident via its official handle.

“We are aware of the incident involving the Nomad token bridge. We are currently investigating and will provide updates when we have them.”

Nomad tweeted.

Similarly, blockchain protocols linked with Nomad have also issued statements reassuring users of ongoing investigations into the incident. For example, Evmos said it is brainstorming to proscribe solutions to the current mishap that occurred with the protocol through its Twitter handle.

“We are aware of the Nomad exploit. Unfortunately, we can’t control what happens to other projects. This does not affect the base Milkomeda protocol, but Nomad is one of multiple bridges deployed to Milkomeda so users of Nomad-based assets on Milkomeda & Cardano are affected.”

Milkomeda said.

Furthermore, Moonbeam smart contract platform from the Polkadot network went into maintenance mode following the incident. However, the protocol has since posited that its chain is safe, and the exploit didn’t affect it.