Nomad Bridge Hack | three point O | Shortcast

The Nomad bridge is being exploited, with $200M in digital assets stolen so far. Nomad, a protocol allowing users to move digital assets between different blockchains, is being actively hacked on Monday evening.

The hack comes days after Nomad announced the full list of investors in its $22 million seed round, which was led by Polychain Capital, with participation from backers including Ethereal Ventures, Hack VC, Coinbase Ventures and Crypto.com Capital.

This isn’t the only bridge to be hacked this year. The Ronin Bridge, used by the developers of play-to-earn game Axie Infinity, was hacked for nearly $625 million earlier this year

This shortcast of three point O portrays technical analysis based on the current scenario and how such hacks can be avoided.