CryptoLoss

All incidents · Aug 1, 2022

Many people emptied the Nomad bridge within an hour

NomadBridgeContainedEthereum, Moonbeam, Evmos, Avalanche

On August 1, 2022, after an upgrade, many addresses used nearly identical transactions to move assets off the Nomad bridge. PeckShield, via The Block, estimated about $190 million and more than 300 addresses. The project notified law enforcement and asked people to return funds to a stated address. In November, Mandiant wrote that about $36 million had been returned.

Loss
190million USD
PeckShield, via The Block · as of Aug 2, 2022
Recovered
36million USD
Mandiant: returned as of November 2022 · as of Nov 29, 2022

Sequence

Newest first · UTC

Nov 292022 · Tue

  1. Mandiant: about $36 million had been returned

    Revision · Mandiant

    In a November review, Mandiant wrote the bounty as keeping 10%, with no further pursuit if 90% was returned, plus a white-hat NFT. The article said $36 million of the $190 million was ultimately returned. This site treats that later cumulative figure as the recovery figure. The $22.4 million of August 5 stays in the previous entry.

Aug 52022 · Fri

  1. Early returns were about $22.4 million, with 10% offered as a reward

    Revision · Nomad

    The Block, using Etherscan, wrote that $22.4 million had been returned as of August 5. That was about 11.7% of $190 million. The team said returners could keep 10%. It said it would not take legal action against people who returned on those terms. This figure was later superseded by a higher cumulative return.

Aug 32022 · Wed

  1. White hats were asked to return funds to an Anchorage address

    Industry · Nomad

    Cointelegraph cited Nomad. It asked any white hat or security researcher then holding ETH or ERC-20 tokens moved off the bridge to return the funds to the Anchorage address 0x94A84433101A10aEda762968f6995c574D1bF154. Nomad said it was tracing the funds with TRM Labs and law enforcement.

    Nomad asks that any white hat hacker or ethical security researcher currently holding ETH or ERC-20 tokens from the token bridge attack please return them by sending them to the following Anchorage wallet address: 0x94A84433101A10aEda762968f6995c574D1bF154

    Cointelegraph · Aug 3, 2022

Aug 22022 · Tue

  1. The project acknowledged the incident and notified law enforcement

    Confirmation · Nomad

    The Register cited a Nomad post. The team was handling the matter. It had notified law enforcement and retained on-chain intelligence and forensics firms. The aim was to identify the accounts involved, and to trace and recover the funds.

    We are working around the clock to address the situation and have notified law enforcement and retained leading firms for blockchain intelligence and forensics.

    The Register · Aug 2, 2022
  2. An upgrade made messages count as already proven by default

    Technical · samczsun

    The Verge relayed an explanation from Paradigm researcher samczsun. A routine upgrade set the trusted root to an empty value, so messages passed verification by default. After that, someone only had to copy a transaction that had already succeeded, swap in their own address, and broadcast it. The assets would then be sent to them. Only this public feature is recorded here. Call details are not written.

Aug 12022 · Mon

  1. More than 300 addresses moved about $190 million

    Alert · PeckShield

    The Block cited PeckShield. An unnamed address first moved nearly $95 million. After the news spread, others joined. More than 300 addresses moved funds off the bridge in about an hour. Of those, 41 addresses accounted for about $152 million. PeckShield treated at least 6 addresses as white hats. Those moved about $8.2 million. The bridge connects Ethereum, Moonbeam, Evmos, and Avalanche.