{"id":481582,"date":"2022-08-05T23:00:00","date_gmt":"2022-08-05T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/"},"modified":"2022-08-05T23:00:00","modified_gmt":"2022-08-05T20:00:00","slug":"finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/","title":{"rendered":"# Finance Redefined: Solana and Nomad bridge fall prey to exploits losing millions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a325643a7090\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a325643a7090\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#%E2%80%9D_Finance_Redefined_Solana_and_Nomad_bridge_fall_prey_to_exploits_losing_millions_%E2%80%9C\" >&#8221; Finance Redefined: Solana and Nomad bridge fall prey to exploits losing millions  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#Nomad_token_bridge_drained_of_190M_in_funds_in_security_exploit\" >Nomad token bridge drained of $190M in funds in security exploit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#Slope_wallets_blamed_for_Solana-based_wallet_attack\" >Slope wallets blamed for Solana-based wallet attack<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#Nansen_admits_neglecting_DeFi_plans_during_the_NFT_craze\" >Nansen admits neglecting DeFi plans during the NFT craze<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#Uniswap_Foundation_proposal_gets_mixed_reaction_over_74M_price_tag\" >Uniswap Foundation proposal gets mixed reaction over $74M price tag<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Finance_Redefined_Solana_and_Nomad_bridge_fall_prey_to_exploits_losing_millions_%E2%80%9C\"><\/span>&#8221; Finance Redefined: Solana and Nomad bridge fall prey to exploits losing millions  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter crafted to bring you significant developments over the last week.<\/p>\n<p>This past week, the DeFi ecosystem saw two exploits, one after another, resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of what many deemed a decentralized robbery, which saw almost $190 million drained out of their wallets.<\/p>\n<p>Solana ecosystem became the victim of a widespread unknown attack that saw thousands of wallets getting drained out of all the funds. Apart from a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of exploits, Nansen admitted their negligence toward the DeFi market during the NFT boom.<\/p>\n<p>The top-100 DeFi tokens had a mixed price action over the past week, with many seeing a downturn after some bullish action last week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nomad_token_bridge_drained_of_190M_in_funds_in_security_exploit\"><\/span>Nomad token bridge drained of $190M in funds in security exploit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Nomad token bridge <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have experienced a security exploit that has allowed hackers to systematically drain a significant portion of the bridge\u2019s funds over a long series of transactions.<\/p>\n<p>Nearly the entire $190.7 million in crypto has been removed from the bridge, with only $651.54 left remaining in the wallet, according to the DeFi tracking platform DefiLlama. However, Nomad later suggested to Cointelegraph that some of the funds were withdrawn by \u201cwhite hat friends\u201d who took the funds out with the intention of safeguarding them. <\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Slope_wallets_blamed_for_Solana-based_wallet_attack\"><\/span>Slope wallets blamed for Solana-based wallet attack<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the dust settles from yesterday\u2019s Solana (SOL) ecosystem mayhem, data is surfacing that wallet provider Slope is largely responsible for the security exploit that stole crypto from thousands of Solana users.<\/p>\n<p>Slope is a Web3 wallet provider for the Solana layer-1 blockchain. Through the Solana Status <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account on Wednesday, the Solana Foundation pointed the finger at Slope, stating that \u201cit appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications.\u201d<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nansen_admits_neglecting_DeFi_plans_during_the_NFT_craze\"><\/span>Nansen admits neglecting DeFi plans during the NFT craze<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CEO and co-founder Alex Svanevik recently spoke about Nansen\u2019s growth, highlighting that the company has registered over 130 million addresses and has grown 30% despite the crypto downturn. Svanevik credited much of his success to the value of blockchain platforms, notably those based on Ethereum.<\/p>\n<p>Cointelegraph reached out to Nansen\u2019s Andrew Thurman for more insight into the company\u2019s success. Thurman, a Simian psychometric enhancement technician, explained that after the nonfungible token (NFT) craze, they neglected their DeFi plans a bit.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Uniswap_Foundation_proposal_gets_mixed_reaction_over_74M_price_tag\"><\/span> Uniswap Foundation proposal gets mixed reaction over $74M price tag<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Uniswap Labs community has already begun mulling over a new proposal that would form a Uniswap Foundation based in the United States, but first, it\u2019s going to cost $74 million.<\/p>\n<p>The proposal has garnered mixed feedback from the community so far, with many praising the foundation\u2019s plans to support and expand the Uniswap ecosystem, while others have balked at its hefty price tag.<\/p>\n<p>Continue reading<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_market_overview\"><\/span>DeFi market overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analytical data reveals that DeFi\u2019s total value locked registered a rise of nearly 9 billion dollars from the past week, posting a value of $79.4 billion. Data from Cointelegraph Markets Pro and TradingView shows that DeFi\u2019s top-100 tokens by market capitalization had a mixed week, with several tokens trading in red while a few others registered even double-digit gains.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/1d0da821-b6ae-42b3-8ae6-870bad0861f0.jpg\"><\/figure>\n<p>Yearn.finance (YFI) was the biggest gainer among the top 100, registering a 20% surge over the past week, followed by Lido DAO (LDO) with a 16% surge. Fantom (FTM) saw a 10% price rise and PancakeSwap (CAKE) registered an 8% rise on the weekly chart.<\/p>\n<p><em>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/finance-redefined-solana-and-nomad-bridge-fall-prey-to-exploits-losing-millions\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Finance Redefined: Solana and Nomad bridge fall prey to exploits losing millions &#8220; Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits, one after another, resulting in the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":481583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMmE3ZDg4YzMtMTRhNi00YmVhLWFmMzUtZTVlYzAyZDJhZmU2LmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74882,95118,92498,88700,70944],"class_list":["post-481582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-hacks","tag-nft","tag-solana","tag-uniswap","tag-hackers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=481582"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/481583"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=481582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=481582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=481582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}