VRB News
Virtual Reality Brisbane
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
No Result
View All Result
Home IT news

Vulnerability was not previously known

admin by admin
August 4, 2022
in IT news
0
Vulnerability was not previously known
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter
  • According to an analysis company, Nomad had already known about the vulnerability that led to the hacker attack.
  • Nomad denies this claim and says that the June security report was another vulnerability.
  • Nevertheless, this hack, which stole almost $ 200 million in cryptocurrencies, is one of the largest in crypto history.

The hack attack on the Nomad token bridge on August 3 was the fourth largest crypto hack in history. There, almost $200 million worth of crypto assets were stolen from the platform. However, not only the hack, but also the method behind it attracted great attention.

The exploit was possible due to a smart contract vulnerability. In addition to the hacker, hundreds of other users also used them and took as much as possible with them. To do this, all you had to do was copy the transaction data used by the original hacker and enter your own wallet address. This event was later classified by many as a decentralized robbery, since ordinary community members were also involved.

Later, the Nomad team revealed to Cointelegraph that some of the people who were withdrawing funds acted benevolently to prevent the hackers from stealing the entire cryptocurrencies.

After the hack, the crypto analysis firm BestBrokers found that the first attack took place on August 1. In this case, 400 Bitcoin (BTC) were stolen in four different transactions. The hackers then took 22,880 ether (ETH), then moved on to the stablecoins worth over $ 107 million and finally to the altcoins supported by the project.

In the incident, WBTC, Wrapped Ether (WETH), USD Coin (USDC), Frax (FRAX), Covalent Query Token (CQT), Hummingbird Governance Token (HBOT), IAGON (IAG), Dai (DAI), GeroWallet (GERO), Card Starter (CARDS), Saddle DAO (SDL) and Charli3 (C3) tokens were stolen from the bridge.

In this context: Hack attack on Solana-based hot wallets: several million already stolen

Some altcoins stolen from the platform have seen a slump of up to 94 percent. According to the data of the analysis company, the following altcoins have recorded the largest drop after the hack:

The exploited smart contract vulnerability was already highlighted in a security review report by Quantstamp in the first week of June. The Nomad team replied that it was “practically impossible to find the model of the blank sheet”.

The auditors believed that the Nomad team had misunderstood the problem at the time. Two months later, this very vulnerability led to losses of almost $ 200 million.

Cointelegraph asked Nomad for a comment on this discovery, and the team has since replied that the vulnerability identified by Quantstamp was different from the one that made this hack attack possible. The company also assured that it is actively working to return the money to users.

Previous Post

Samsung rolls back smartphone production in Vietnam

Next Post

Intel wants a new factory in Italy

admin

admin

Related Posts

When is the HOT SALE 2023 in Mexico?
IT news

When is the HOT SALE 2023 in Mexico?

January 31, 2023
Dedicated Servers
IT news

The advantages of dedicated servers: cost, performance, security

January 27, 2023
Different types of proxies and their benefits for online security
IT news

Different types of proxies and their benefits for online security

January 27, 2023
Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…
IT news

Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

January 25, 2023
helpchildreninukraine
IT news

Need for reform in juvenile justice legislation in Ukraine

January 25, 2023
Next Post
Intel wants a new factory in Italy

Intel wants a new factory in Italy

Premium Content

DevOps underestimated at universities

Web-Migration of COBOL and xBase-projects

June 6, 2021
Google will pay media for their news content

Google will pay media for their news content

June 25, 2020
Moderna shares fell 5% amid investors ‘ concerns about the delay in trials of vaccines against coronavirus

Moderna shares fell 5% amid investors ‘ concerns about the delay in trials of vaccines against coronavirus

July 12, 2020

Browse by Category

  • Games
  • IT news
  • Tech
  • World

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • When is the HOT SALE 2023 in Mexico?
  • The advantages of dedicated servers: cost, performance, security
  • Different types of proxies and their benefits for online security

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?