Nomad Hacker Swapped 45 Million DAI for ETH
CryptoNewsTerminal Staff04 Aug, 2024
Nomad Hacker Swapped 45 Million DAI for ETH
The hacker who exploited the Nomad cross-chain cryptocurrency bridge has swapped 45 million DAI for ETH, according to blockchain security firm Certic. Nomad was previously exploited in August last year, with around $186 million worth of cryptocurrency stolen. The hacker sent the 45 million DAI to a new address and then swapped it for ETH. It is not clear what the hacker's motives are, but it is possible that they are trying to launder the stolen funds. The Nomad hack is a reminder of the risks involved in using cross-chain bridges. Cross-chain bridges allow users to transfer cryptocurrency from one blockchain to another. However, they can be complex and difficult to secure. The Nomad hack is not the first time that a cross-chain bridge has been exploited. In February last year, the Wormhole cross-chain bridge was exploited for $325 million.
