Cross-chain bridge Nomad was exploited for $190 million yesterday, with over 300 different addresses taking part in the attack.
| August 02, 2022 | August 2nd |
| | | 📈 30 Second Cryptocurrency Price Summary |
| Bitcoin price has found itself in the $23,000s for another consecutive day, as price continues to float above the $22,000 range. |
| Top-20 altcoins are trading relatively flat over the last 24 hours, as Ethereum falls less than 1%, BNB gains 1% and Ethereum Classic jumps 7%. |
Top Stories for August 2, 2022 🔥 |
| Cross-chain bridge Nomad was exploited for $190 million yesterday, with over 300 different addresses taking part in the attack. The primary hacker made away with around $95 million, followed by hundreds of copy-cat exploiters who drained the remaining funds. |
| The exploit arose from a smart contract update by Nomad developers, which unintentionally enabled anyone to withdraw funds from the bridge. |
| The bull case for Ether (ETH) has been further clouded, as the second-largest cryptocurrency fails to reclaim a position above the 100-day simple moving average. |
| Price bounced off the level last week, which was around $1,750, falling back to as low as $1,563 yesterday. Analysts say a breakdown of the short-term trendline would imply a move to around $1,356. |
| The supply of Tether USDT has started to increase after almost three months of decline, with a ~$500 million increase over the last few days. The USDT supply peaked at 83 billion in May, followed by many large-scale redemptions following the collapse of Terra and TerraUSD. |
| Tether remains the largest stablecoin on the market, with a current total of 66.3 billion USDT in circulation – or 43% of the total stablecoin market. |
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