Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits one after another resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of …
Solana and Nomad bridge fall prey to exploits losing millions Read More »
Nomad announced a bounty of up to 10% for the return of the stolen funds from the Nomad bridge. In a website announcement and tweet, the company publicly provided a wallet address for sending the funds. The bounty is applicable to anyone who comes forward from now on or already returned funds. At the time …
Nomad announces $190 million bounty for lost funds from recent hack Read More »
The exploit took place due to a smart contract vulnerability that saw hundreds of users other than the hacker also get involved, taking away as much as they can by simply copy-pasting the transaction data used by the initial hacker and changing the wallet address to theirs. The event was later deemed as a decentralized …
Nomad reportedly ignored security vulnerability that led to $190M exploit Read More »
Hackers that exploited the Nomad Bridge have sent around $9 million back to the protocol. Source link
Halborn Chief Information Security Officer Steven Walbroehl joined CoinDesk TV’s “First Mover” to discuss how Nomad’s bridge lost $200 million in less than 24 hours. Source link
En Twitter, @samczsun, un investigador en la firma de inversiones cripto Paradigm, explicó que una actualización reciente de uno de los smart contracts de Nomad facilitó a los usuarios la falsificación de transacciones. Esto significa que los usuarios podían extraer dinero del puente de Nomad que no les pertenecía. Source link
Sam Sun, a researcher at crypto investment firm Paradigm, explained on Twitter that a recent update to one of Nomad’s smart contracts made it easy for users to spoof transactions, meaning people could withdraw money from the bridge that didn’t actually belong to them. Source link
Cross-chain messaging protocol Nomad is being actively hacked and at least $45 million has been stolen, The Defiant reported Monday night, sighting several Twitter posts. Nomad posted on its Twitter account that it is aware of the situation and is investigating. Source link
The Nomad token bridge appears to have experienced a security exploit that has allowed hackers to systematically drain 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 DeFi Llama. …
Nomad token bridge drained of $190M in funds in security exploit Read More »
The newly announced backers included the venture capital arm of crypto exchange Coinbase, non-fungible token (NFT) marketplace OpenSea, Crypto.com Capital, crypto market-maker Wintermute, decentralized finance (DeFi) platform Gnosis and the Polygon blockchain. The round was led by crypto investment firm Polychain. Source link