Local media reported on the 2nd (local time) that Nomad, a U.S. cross-chain company, has been hacked into $190 million worth of virtual assets.

According to Reuters reports citing security company Pexild, Nomad was found to have stolen $119 million worth of ETH (Etherium) and USDC (US dollar coin) stored in customer wallets. Some were moved to mix virtual asset movements, making it difficult to track routes, and $95 million worth of other three wallets.

Nomad said on Twitter, “We are aware of the incident and are currently investigating it.” It did not mention the cause and path of the hacking or whether customer assets were refunded.

Citing security experts, CNBC reported that Nomad’s security was weak, making it possible for anyone to steal Nomad’s virtual assets if they had some hacking skills. They say that they were able to withdraw more virtual assets than they actually deposited by using the Nomad code generated when the user withdrew.

Bridge services, which facilitate the exchange of different virtual assets like Nomad, have been vulnerable to hacking. Coinesk US pointed out that small blockchains, which increased accessibility to large-scale blockchains through bridges, were particularly damaged. According to Eliptic data, more than $1 billion worth of virtual assets have been stolen in hacking attacks aimed at bridge services so far this year alone, including Ronin’s $600 million hacking in April.

By fonuder

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