Hackers drained nearly $200 million in cryptocurrency from Nomad, a tool that allows users to swap tokens from one blockchain to another, in another attack highlighting weaknesses in the financial space decentralized. Nomad acknowledged the exploit in a tweet on Monday evening. “We are aware of the incident involving the Nomad token bridge,” the startup said. “We are currently investigating and will provide updates when we have them.” It’s unclear how the attack was orchestrated, or whether Nomad plans to reimburse users who lost tokens in the attack. The company, which markets itself as a “secure cross-chain messaging” service, was not immediately available for comment when contacted by CNBC. Blockchain security experts described the exploit as “free for everyone”. Anyone familiar with the exploit and how it works could grab the loophole and withdraw an amount of tokens from Nomad – much like an ATM spitting out cash at the push of a button.
Whole story : Hackers drain nearly $200 million from crypto startup in ‘free-for-all’ attack.