Unchained Will the Nomad Mass Looting Change How Law Enforcement Treats DeFi Hacks? - Ep. 382
Aug 9, 2022
Layne Haber, Co-founder of Connext Network and a DeFi security expert, dives into the recent Nomad bridge hack and its implications. He unpacks the hack's unique aspects, its ties to the historic DAO exploit, and discusses the reactive measures by law enforcement. Haber elaborates on the role of bounty programs in recovery efforts and the challenges faced by authorities in tracking decentralized crime. He emphasizes the need for improved cross-chain security and predicts ongoing developments in addressing these vulnerabilities.
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Episode notes
Nomad Hack
- Hackers stole nearly all of Nomad bridge's $190M in TVL.
- Many people, including bots and white hats, participated, making it unique.
The DAO Hack
- Laura Shin recalls the 2016 DAO hack as a similar mass looting event.
- Copycat attackers exploited the DAO vulnerability after discovery.
Law Enforcement Involvement
- Law enforcement's involvement is likely due to the many participants.
- The chaotic nature of the hack may have led to poor security practices.
