‘Free-for-all’ Nomad exploit drains $190M of crypto

Cross-chain bridge Nomad has fallen victim to a “free-for-all” exploit that drained around $190 million in crypto.

Just last week, Nomad announced that it had secured $22.4 million in seed funding from high-profile backers including Coinbase Ventures, Crypto.com Capital, and OpenSea. The company emphasised its focus on security following a spate of bridge hacks.

“With $1.5B in bridge hacks happening within the last 12 months, many people, protocols, and DAOs are...

Nomad raises £18.4m for secure cross-chain DeFi protocol

Bridge

DeFi cross-chain interoperability protocol Nomad has secured a $22.4 million (£18.4m) seed round from leading investors in the crypto industry.

Crypto investment firm Polychain led the round, with Coinbase Ventures, Crypto.com Capital, OpenSea, Wintermute, Gnosis, Algaé and Polygon all participating too.

This financing round will be used to expand Nomad to other blockchains, helping it create a more secure cross-chain bridge encryption ecosystem, where different...