Category: Nomad Bridge

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Moonwell’s Bold $2.3M Plan to Counter Frax Hack Debt Sparks Controversy

January 20, 2024

Moonwell, a decentralized finance (DeFi) borrowing and lending protocol, is facing controversy over its proposal to use $2.3 million worth of digital asset collateral to offset bad debt from Frax Finance (FRAX) pools due to a hack nearly two years ago. In a plebiscite held on December 31, 2023, Moonwell sought community approval to use…
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Cross-Chain Bridge Nomad Loses $190 Million Making It 2022’s Third-Largest Crypto Heist

August 2, 2022

On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in…
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