Cross-Chain Bridge Nomad Loses $190 Million Making It 2022’s Third-Largest Crypto Heist

On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in the world of decentralized finance (defi) just can’t catch a break no matter how long they have been running and even after the bridges have been audited. On August 1, 2022, the cross-chain bridge Nomad…

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Axie Infinity Loses $620 Million After Hacker Compromised Ronin Validators

According to Sky Mavis, the creators of the blockchain NFT game Axie Infinity, the Ronin network has been attacked, and a hacker has managed to siphon 173,600 in ethereum and 25.5 million usd coin (USDC). The attacker has obtained roughly $620 million worth of crypto assets, and the Ronin bridge and Katana Dex have been paused. The Largest NFT Blockchain Game Axie Infinity Suffers From a $620 Million Hack The largest non-fungible token (NFT) blockchain game, Axie Infinity, has suffered from an attack on Tuesday after the Ronin network validators…

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Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall

[ad_1] It’s as miraculous as Aladdin taking off on a magic carpet: in a possible first, some of the users of a decentralized finance protocol were the ones to benefit today from an exploit, turning the concept of a ‘rugpull’ on its head.  A colloquialism for when liquidity is drained from a project (often an unscrupulous founder or developer draining the funds themselves), depositors and DeFi users are most often the ones holding bad debt and/or worthless tokens — left to hope for compensation plans that can take months or…

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Belt Finance loses millions in latest BSC-based DeFi exploit

[ad_1] Belt Finance has become the latest Binance Smart Chain-based decentralized finance, or DeFi, protocol to lose millions to an opportunistic hacker. The Rekt Blog, which post mortems DeFi exploits, stated that an attacker exploited a flaw in the way the protocol’s vaults calculates the value of its collateral which helped to “add another notch to the now infamous flash loan exploit season on the BSC,” adding: “Yet another fork of a fork has rolled off the conveyor belt with $6.3M falling straight into the hands of the hacker.” Rekt…

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