Fifth hack of DeFi decentralized finance platform with $200 million

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The global digital asset market is waking up to the fifth largest DeFi hack ever, as nearly $200 million has been drained from the Nomad bridge protocol, and according to a blockchain security firm, more than 41 addresses have been identified that made millions of dollars during the theft.

Citing security firm PeckShield, 41 addresses earned more than $152 million in the Nomad Bridge exploit, treating 80% of the total hack, to include 7 MEV Bots, Rari Capital arbitrum Exploiter, and 6 White Hat. 6 white Hat, and the company added that about 10% of these addresses in the ENS names received $ 6.1 million from this exploit, while Mav Boots received $ 7.1 million, and Rari Arbitram got 3.$4, , the Nomad Bridge fell sharply from the list of the biggest exploits of 2022 after this hack, however, this hack was a little different from the others, as money drained the protocol in small batches and over hours.

the managing director said Polygon Modit Gupta said on Twitter that the attacker could have taken everything in one deal in the Nomad hack, however, it was not done, adding that if the first attacker had the required and correct skills, he could have taken all the money using smart contracts in one deal. 

Fifth hack of DeFi decentralized finance platform with $200 million
Fifth hack of DeFi decentralized finance platform with $200 million

However, this is still a contract-smart hack rather than a major compromise, and Gupta said it could have been avoided, with better testing, and some formal verification. 

Meanwhile, he concluded that decentralized bridges are complex and difficult to secure, the security firm also reported on The Zellic Blockchain, that understanding the errors is not enough, and it is important to stop merging them, noting that the first hacked deal wasIts record was worth $2,322 million worth of WBTC rap bitcoin. It is reported that the hack was made by calling only one function responsible for executing exchanges via the blockchain, which is extremely important.

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