Hackers Withdrew More Than $90 Million From The Nomad Cross-chain Protocol

The Nomad cross-chain protocol was hacked, as a result of which the attackers withdrew more than $90 million worth of crypto assets, SlowMist researchers reported.

Using the MistTrack platform, analysts tracked the movement of funds to three Ethereum addresses. Most of the stolen assets are wrapped assets like WBTC and USDC stablecoin .

Paradigm researcher samczsun estimated the value of the withdrawn assets at $150 million.

Approximately the same amount is mentioned in a tweet by PeckShield researchers. According to them, funds were received at 41 addresses.

Representatives of Nomad confirmed the information about the incident and assured users that they understand what happened. 

The Nomad protocol uses “fraud proofs” like in the Optimistic Rollup . The technology eliminates the need for multi -signatures , validators and oracles.

In April, cross-chain bridge developers Nomad raised $22 million in a seed round led by Polychain Capital.

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