According to blockchain analysts, an $85 million theft attacked the U.S. crypto business Nomad on Tuesday, just the latest in a slew of cybercrimes targeting digital assets this year.
More than $190 million of cryptocurrency including ether and USDC (the stablecoin), was reportedly stolen. According to other blockchain analysts, the total amount is more than $150 million.
Cryptocurrency exchange Coinbase Global, which secured $million from investors including Nomad last week, develops software that links several blockchain-based ledgers.
Token transfers across blockchains were the goal of the robbery, which targeted Nomad's "bridge". Thefts in the crypto industry have always been a problem and now affecting blockchain bridges.
Elliptic, a London-based blockchain analytics startup, estimates that more than $1 billion has been taken from bridges in 2022. .
Axie Infinity is Ronin Bridge, which lets players send and receive bitcoin. It was the victim of a breach in March, with hackers making off with about $615 million value of cryptocurrencies.