Security

Nomad crypto firm hit with $190M theft

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August 3, 2022

Nomad, a U.S.-based cryptocurrency firm, has lost $190 million due to theft. Nomad claims in a tweet it is investigating the incident, according to a Reuters report.

Crypto analytics firm PeckShield discovered the theft, which included both ether and USDC. Thieves stole the cryptocurrency from Nomad's bridge, which is a tool that lets users transfer tokens between blockchains. Criminals often target these bridges, which have been the source of $1 billion in theft this year so far.

Nomad said it is working with blockchain forensics firms to discover the accounts that committed the theft and retrieve the funds.