Nomad crypto bridge loses $200 million in chaotic hack

After a few quiet months, it’s happened again: another blockchain bridge hack with losses in the hundreds of millions of dollars.

Nomad, a cryptocurrency bridge that lets users swap tokens between blockchains, is the latest to be hit after a frenzied attack on Monday, which left almost $200 million of its funds drained.

The hack was acknowledged by the Nomad project’s official Twitter account on Monday, August 1st, initially as an “incident” that was being investigated. In a further statement released early Tuesday morning, Nomad said that the team was “working around the clock to address the situation” and had also notified law enforcement.

Continue reading…