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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

US Crypto Firm Nomad Hit by $190 Million Theft

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

US crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year.

Nomad said in a tweet that it was "aware of the incident" and was currently investigating, without giving further details or the value of the theft.

Crypto analytics firm PeckShield told Reuters $190 million worth of users' cryptocurrencies were stolen, including ether and the stablecoin USDC. Other blockchain researchers put the figure at over $150 million.

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

The company, which last week raised $22 million from investors including major US exchange Coinbase Global , makes software that connects different blockchains - the digital ledgers that underpin most cryptocurrencies.

The heist targeted Nomad's "bridge" - a tool which allows users to transfer tokens between blockchains.

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

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

In March, hackers stole around $615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft.

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