Nomad reportedly ignored security vulnerability that led to $190M exploit
Cointelegraph
Published Aug 03, 2022 07:36AM ET
Updated Aug 03, 2022 09:20AM ET
The Nomad token bridge hack on Aug. 3 was the fourth largest crypto hack in history that saw nearly $200 million worth of crypto assets drained from the platform. However, more than the hack, the methodology behind it garnered widespread attention.
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 robbery by many due to the involvement of normal community members.
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Written By: Cointelegraph
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