Nomad Cryptocurrency Platform Hacked: $190 Million Lost

Summary # On August 1, 2022, Nomad, a cryptocurrency platform, experienced a chaotic hacking incident resulting in a loss of more than $190 million. The hack occurred when multiple users took advantage of an accidental error in a recent update, allowing them to drain funds from the blockchain protocol. An investigation conducted by samczsun, the head of security at Paradigm, a web3 investment firm, revealed that one of Nomad’s smart contracts had been modified in a way that made it vulnerable to transaction spoofing. ...