Bit Coin is Safez, page-29

whoops it happened again. and it was easy

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e hacks have made this week a rough one for crypto’s public image, as the sector continues to struggle its way out of the so-called Crypto Winter after billions of dollars were wiped out in the November 2021 price crash.

The largest of the two latest security breaches hit Nomad, a cross-chain bridge protocol used to make transactions between different blockchains faster and simpler.

The attack on Nomad started quietly, but spiralled quickly out of control, once word got out that anyone could simply cut and paste the initial fraudulent transaction substitute in their own crypto wallet addresses, and get in on the theft themselves.

Sam Sun, a researcher for Web3 investment firm Paradigm, explained how the attack was entirely due to a tiny – but massive – mistake by the dev team at Nomad, and why it was so easy to replicate.

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