{"id":340188,"date":"2022-08-11T15:37:21","date_gmt":"2022-08-11T19:37:21","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=340188"},"modified":"2022-08-11T15:38:42","modified_gmt":"2022-08-11T19:38:42","slug":"nomad-exploit-copycats-steal-88m-by-replicating-an-attackers-code","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/nomad-exploit-copycats-steal-88m-by-replicating-an-attackers-code","title":{"rendered":"Nomad Hack: &#8220;Copycats&#8221; Steal $88M by Replicating an Attacker&#8217;s Code"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">According to a new analysis released this week by <a href=\"https:\/\/blog.coinbase.com\/nomad-bridge-incident-analysis-899b425b0f34\" target=\"_blank\" rel=\"noopener\">cryptocurrency exchange Coinbase<\/a>, 88% % of the exploiters behind Nomad&rsquo;s bridge hack were likely individuals were Copycats who copied the key attacker&rsquo;s code and carried out their attack.&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Nomad is a bridge protocol connecting to various chains, including Moonbeam, Ethereum, and others. The Nomad bridging protocol employs both on-chain and off-chain components. While off-chain agents transmit and verify communications between multiple blockchains, on-chain smart contracts collect and distribute bridging funds.&nbsp;<\/span><\/p>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/visit\/binance\" class=\"su-button su-button-style-3d\" style=\"color:#000000;background-color:#F9A602;border-color:#c88502;border-radius:9px;-moz-border-radius:9px;-webkit-border-radius:9px\" target=\"_self\" rel=\"nofollow\"><span style=\"color:#000000;padding:0px 24px;font-size:18px;line-height:36px;border-color:#fbc14e;border-radius:9px;-moz-border-radius:9px;-webkit-border-radius:9px;text-shadow:none;-moz-text-shadow:none;-webkit-text-shadow:none\"> <strong>Buy Cryptocurrencies&nbsp;Now<\/strong><\/span><\/a><\/span><\/p>\n<p style=\"text-align: center\"><em>Your capital is at risk.<\/em><\/p>\n<h2><span data-preserver-spaces=\"true\">Nomad&rsquo;s Almost $190 Million Got Hacked by Copycats<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Nomad, a cross-chain bridge, had approximately $190 million, or nearly all of its token reserves, stolen early in August. As a result, 88% of all addresses that used the attack were identified as &ldquo;copycats,&rdquo; having stolen nearly $88 million in tokens from the Nomad bridge.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Following the $250 million Wormhole Bridge attack in February and the $540 million Ronin Bridge hack in March, the Nomad Bridge hack now ranks as the third-largest Decentralized Finance (DeFi) hack of all time and the fourth-largest in 2022.&nbsp;<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Nomad Launched a Reward Program<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">These cross-chain bridges have been chastised for being overly centralized, making them an easy target for attack. As a result, Nomad launched a reward program last week while continuing to work with security organizations and <a href=\"https:\/\/insidebitcoins.com\/news\/crypto-bridge-nomad-recovers-22m-after-190m-hack\" target=\"_blank\" rel=\"noopener\">ethical hackers to recover<\/a> some of the stolen funds.&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">More than $25 million had been recovered by August 10th, but the majority was still missing.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Read more:<\/span><\/strong><\/p>\n<ul>\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-nft\/best-metaverse-projects\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best Metaverse Projects of 2022<\/span><\/a><\/li>\n<li><a class=\"editor-rtfLink\" href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">How to buy Cryptocurrencies<\/span><\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">According to a new analysis released this week by cryptocurrency exchange Coinbase, 88% % of the exploiters behind Nomad&#8217;s bridge hack were likely individuals were <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/nomad-exploit-copycats-steal-88m-by-replicating-an-attackers-code\" title=\"Nomad Hack: &#8220;Copycats&#8221; Steal $88M by Replicating an Attacker&#8217;s Code\">[&#8230;]<\/a><\/div>","protected":false},"author":1846,"featured_media":280009,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nomad Hack: &quot;Copycats&quot; Steal $88M by Replicating an Attacker&#039;s Code - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Coinbase reports that 88% % of the exploiters behind Nomad&#039;s bridge hack were likely individuals were Copycats who...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/340188\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nomad Hack: &quot;Copycats&quot; 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