Layne Haber, Co-founder of Connext Network, discusses the Nomad bridge hack, how it happened, and what can be done to prevent these exploits.

Show highlights:

  • what Nomad is and how it works
  • how the hack occurred and what the vulnerability was
  • how much TVL the protocol had and how much of it was drained
  • why the Nomad hack was unique
  • how this exploit resembled the DAO hack on Ethereum
  • the bounty program that Nomad offered and how hackers responded to it
  • how Nomad is working with law enforcement, and the reasons why law enforcement has decided to get involved
  • how Nomad has partnered with TRM Labs to help with tracking the hackers
  • whether privacy developments in the crypto ecosystem will make it harder for law enforcement to track down hackers
  • why cross-chain hacks happen so often
  • what Layne thinks can be done to improve bridge security
  • what mechanism can be implemented to prevent errors that enable these types of mass looting
  • what Layne expects to see in the next few weeks around the Nomad exploit

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