Close to 90% of addresses taking part in the $186 million Nomad Bridge hack last week have been identified as “copycats,” making off with a total of $88 million worth of tokens on Aug. 1, a new report has revealed.
by Peter Kacherginsky, Coinbase’s principal blockchain threat intelligence researcher, and Heidi Wilder, a senior associate of the special investigations team, the pair confirmed what many had suspected during the bridge hack on Aug. 1 — that once the initial hackers figured out how to extract funds, hundreds of “copycats” joined the party.
The copycats then copied the same code but modified the target token, token amount and recipient addresses. But, while the first two hackers were the most successful , once the method became apparent to the copycats, it became a race for all involved to extract as many funds as possible. The Coinbase analysts also noted that the original hackers first targeted the Bridge’s Wrapped Bitcoin , followed by USD Coin and Wrapped Ether .As the wBTC, USDC and wETH tokens were present in the largest concentrations in the Nomad Bridge, it made sense for the original hackers to first extract these tokens.Surprisingly, Nomad Bridge’s request for stolen funds yielded a 17% return , with the majority of those tokens being in the form of USDC , Tether and wBTC .
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