new shot, $ 200 million was just hacked

Hacks involving cryptocurrency theft have been numerous in recent months. Last June, for example, a hack led to the theft of the equivalent of $ 100 million worth of cryptocurrencies. Either way, this cryptocurrency theft involves a bridge – these players specialize in the instant exchange of funds between blockchains.

However, in the case of Nomad, it appears that this is a particularly gross error. The Nomad Bridge is in fact governed by a 100% open source smart contract. It is therefore possible to consult the code directly and find the defects. However, a configuration error in the smart contract allowed anyone to revalidate transactions already made by changing the recipient address.

A massive hack targets the Nomad Crypto Bridge

Such a simple process, that in reality it wasn’t even a question of having very advanced knowledge. In fact, when Nomad users started seeing stolen funds from multiple addresses, some immediately took advantage of the scheme and attempted to recover the stolen funds using the same process as the hackers. Enough to create what somehow looks like the first mass “looting” in cryptocurrency history.

For his part, Nomad explains on Twitter: “We are working hard to resolve the situation, we have informed the authorities and contacted the leaders of blockchain intelligence and investigations. Our goal is to identify the accounts involved and track and trace the funds. Thanks to our many White Hat friends who have acted upstream to protect the funds ”.

As the company recalls, part of the stolen sums could be easily recovered thanks to the action of some ethical hackers. However, at this stage it is not clear how much money could have been secured in this way. To make matters worse, according to Nomad, malicious actors are currently attempting to impersonate the bridge with messages urging ethical hackers to return the funds … to an address under their control.

Read also – This year cryptocurrency theft explodes, what is happening?

Nomad points this out for now “There are no instructions [officielles] return the sums of the bridge “. And to add: “Please keep holding them until we can give you the procedure to follow to make them on this Twitter thread.”

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