Crypto firm that promised security loses $200 million in 'frenzied free-for-all' hack
Crypto firm that promised security loses $200 million in ‘frenzied free-for-all’ hack Nomad needs to find a new patch. When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works. In what now seems like a weekly event, the latest big crypto hack has made off with nearly $200 million in value from Nomad, a so-called cross-chain token bridge. These bridges are designed to allow people to transfer crypto tokens between different blockchains and, without getting too far into the weeds, work by locking up tokens in one chain and re-issuing them in a ‘wrapped’ form on another: this process is called a smart contract....