Nomad suffered a $200 million loss as a result of an exploit on its bridge

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Last Updated on August 2, 2022 by Bitfinsider

The Nomad team disclosed an exploit on Monday. Following this attack, the cross-chain token bridge Nomad has lost nearly all of its funds within the protocol.

According to the most recent reports, the protocol has suffered a $200 million loss as a result of this attack.

Nomad is a cross-chain bridge that allows users to send and receive tokens between blockchains. The Monday exploit highlights the security concerns with cross-chain bridges.

The attacker, according to the researcher, exploited a recent update to one of Nomad’s smart contracts, which made it simple for users to spoof transactions. The update enabled users to withdraw money from the Nomad bridge that did not belong to them.

The researcher went on to say that, unlike other cross-chain hacks that were carried out by a single individual, Nomad’s attack was a free for all.

He stated:

“It turns out that the Nomad team set the trusted root to 0x00 during a routine upgrade.” To be clear, it is common practise to use zero values as initialisation values. Unfortunately, in this case, it had the unintended consequence of automatically proving every message.

This is why the hack was so chaotic – you didn’t have to know anything about Solidity, Merkle Trees, or anything else. All you had to do was find a working transaction, find/replace the other person’s address with yours, and then re-broadcast it.”


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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