A bad year for the security of cross-chain bridges continues as Nomad has been hit by a crypto hack that drained about $190 million in its stored funds.
The Beanstalk attacker managed to get away with $80 million in illicit crypto funds, though the DeFi platform is looking at a total $182 million loss due to remediation and a sharp value drop that sent the token from $1 to 11 cents in value overnight.
The US Treasury Department has linked North Korea's state-sponsored Lazarus hacking group to the $625 million breach of the Ronin network. The crypto theft was the largest to ever happen to a DeFi platform in terms of unrecovered funds.
A breach of the Ronin network’s bridge between it and the popular NFT game "Axie Infinity" netted an attacker the equivalent of $625 million in Ethereum and other coins, making it one of the largest DeFi Platfform thefts to date.
DeFi platform Qubit finance lost $80 million after hackers leveraged a logical flow to deposit 0 ETH to withdraw 206,809 Binance coins. Platform implored the hackers to return the funds or transform the exploit into a bug bounty.
Brazen robbery by crypto hackers cost users of a DeFi platform a collective $610 million, but only for a little while. Hackers have since returned all but $33 million in assets.