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Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

The latest such theft to affect the digital asset sector this year has targeted U.S. crypto business Nomad, blockchain researchers claimed on Tuesday. The stolen totaled $190 million.

Nomad said in a tweet that it was “aware of the incident” and was currently investigating, without giving further details or the value of the theft.

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According to the crypto analytics company PeckShield, users’ cryptocurrencies, including ether and the stablecoin USDC, were stolen for $190 million. The amount was estimated by other blockchain researchers to be over $150 million.

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based in San Francisco An inquiry for comment from Nomad did not immediately receive a response.

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Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

According to a statement provided to cryptocurrency news site CoinDesk, the company has informed law enforcement and is working with blockchain forensics companies to try to identify the affected accounts and recover the assets.

Nomad creates software that links several blockchains, the digital ledgers that serve as the foundation for the majority of cryptocurrencies, and just last week raised $22 million from investors that included major U.S. exchange Coinbase Global.

The heist targeted Nomad’s “bridge” – a tool which allows users to transfer tokens between blockchains.

Blockchain bridges have increasingly become the target of thefts, which have long plagued the crypto sector. Over $1 billion has been stolen from bridges so far in 2022, according to London-based blockchain analytics firm Elliptic.

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In June, U.S. crypto firm Harmony said that thieves stole around $100 million worth of tokens from its Horizon bridge product.

In March, hackers stole around $615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft.

Nomad described itself as a “security-first” business which would keep users’ funds safe.

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Nomad, A United States Crypto Company Has Been Hit By $190 Million Theft

PeckShield said that a small proportion of the coins were moved to a so-called “mixer,” which masks the trail of crypto transactions, while around $95 million was held in three other wallets.

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(Reporting by Elizabeth Howcroft; editing by Tom Wilson and Christina Fincher)


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