Cryptocurrency thefts, more frequent: Hackers have stolen

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US cryptocurrency firm Nomad was the victim of a $190 million theft, blockchain researchers said on Tuesday, the latest such incident to hit the digital asset sector this year, according to Reuters.

Nomad tweeted that it was “aware of the incident” and was investigating, without providing further details or the value of the theft.

We are aware of the incident involving the Nomad token bridge. We are currently investigating and will provide updates when we have them.

— Nomad (⤭⛓🏛) (@nomadxyz_) August 1, 2022

Crypto analytics firm PeckShield told Reuters that $190 million worth of user cryptocurrencies, including ether and stablecoin USDC, were stolen. Other blockchain researchers have estimated the figure at more than $150 million.

San Francisco-based Nomad did not immediately respond to a request for comment.

The company has notified law enforcement and is working with blockchain forensics firms to try to identify the accounts involved and recover the funds, it said in a statement to crypto news agency CoinDesk.

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

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

In June, US cryptocurrency firm Harmony said thieves stole about $100 million worth of tokens from its Horizon bridge product.

In March, hackers stole about $615 million worth of cryptocurrencies from Ronin Bridge, used to transfer cryptocurrencies to and from the game Axie Infinity. The United States has linked North Korean hackers to the theft.

Nomad described itself as a “secure first” business that would keep users’ funds safe.

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