Good news for Nomad. White hat hackers returned over $30M worth of stolen funds.
According to research published by Paul Hoffman of BestBrokers, the vulnerability of the Nomad protocol was highlighted in Nomad's recent audit by Quantstamp on June 6 and was deemed"Low Risk." As soon as the exploit was discovered, members of the public joined the attack by copy-pasting the initial hack transaction, which was akin to a"decentralized robbery." More than $190 million worth of cryptocurrencies were drained from Nomad in less than three hours.
The attack came just four months after the project raised $22.4 million in a seed round in April. As told by Hoffman, the attack took advantage of a wrongly initialized Merkle root, which is used in cryptocurrencies to ensure that data blocks sent through a peer-to-peer network are whole and unaltered. A programming error effectively auto-proved any transaction message to be valid.Not all participants of the heist were capitalizing on the opportunity, though.
the stolen funds, leading to the possibility of cross-verification with Know-Your-Customer information also utilizing the domain.Dear white hat hackers and ethical researcher friends who have been safeguarding ETH/ERC-20 tokens, Please send the funds to the following wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154
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