The Nomad cross-chain protocol was subjected to a hacker attack, as a result of which attackers withdrew crypto assetsworth more than $90 million, 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Paradigm researcher samczsun estimated the value of the withdrawn assets at $150 million.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.
Nomad representatives confirmed the information about the incident and assured users that they are looking into the incident.
The Nomad protocol uses "fraud proofs" like the Optimistic Rollup. The technology eliminates the need for multi-signatures, validators and oracles.
In April, Nomad cross-chain bridge developers raised $22 million in a seed round led by Polychain Capital.
Read ForkLog bitcoin news in our Telegram - cryptocurrency news, courses and analytics.
Read this:
Hacker stole about $100 million during the attack on the Horizon cross-chain bridge of the Harmony protocol
Hackers Withdrew Almost $ 25 Million from DForce DForce Protocol
In the third quarter, hackers withdrew cryptocurrencies worth more than $ 1 billion
Moonbeam and Osmosis create a cross-chain bridge between Polkadot and Cosmos
Cross-chain project Hop Protocol airdrops governance tokens
Hackers Attack DNS Servers of Namecheap DeFi Projects