Hackers Systematically Drained $191 Million From Nomad Token Bridge
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The Nomad token bridge, which allows transfers of tokens between Avalanche, Ethereum, Evmos, Milkomeda C1, and Moonbeam, experienced a security exploit that has allowed hackers to systematically drain virtually all of the bridge’s funds over a long series of transactions.
Nearly the entire $190.7 million in crypto has been removed from the bridge, with only $651.54 left remaining in the wallet, according to decentralized finance (DeFi) tracking platform DefiLlama. But Nomad suggested that some of the funds were withdrawn by “white hat friends” who took the funds out intending to safeguard them.
The company said that at least some of the people who took funds were acting benevolently to protect the crypto from getting into the wrong hands. The team added that it had retained the services of “leading firms for blockchain intelligence and forensics.”
Nevertheless, the Moonbeam smart contract platform from the Polkadot network, whose native GLMR token was one targeted in the Nomad exploit, …
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