$190 million was stolen from Nomad Token Bridge through a security flaw

The Nomad cross-blockchain bridge may have been exploited, causing a crypto outflow of millions of dollars.

Nomad token bridge drained of $190M in funds in security exploit
Nomad Token | Image: Nomad Token Website

According to decentralized finance (DeFi) tracking platform DeFi Llama, almost all of the bridge's $190.7 million in crypto has been taken, leaving only $651.54 in the wallet.

It appears that the still-evolving scenario started shortly after 5:30 EDT. Wrapped bitcoin (WBTC) was the initial target of Nomad bridge contract outflows, along with holdings of wrapped ether and eventually the stablecoin USDC. Cryptocurrency worth up to $100 million appears to have been impacted.

Additionally, it's unclear whether the possible exploit was created by a single actor or a group of actors, despite the fact that blockchain data implies that transactions may have been crafted to make it appear as though there were several people involved.

"We are aware of the incident involving the Nomad token bridge. We are currently investigating and will provide updates when we have them," the team said in a Tweet.

Early this year, the Nomad project's team secured a $22.4 million seed investment. Among its supporters are OpenSea and Coinbase.

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