Security News > 2022 > August > Cryptocoin “token swapper” Nomad loses $200 million in coding blunder
Cryptocurrency protocol Nomad describes itself as "An optimistic interoperability protocol that enables secure cross-chain communication," and promises that it's a "Security-first cross-chain messaging protocol."
Some Twitterati are already using the word rugpull, a pejorative phrase in the cryptocoin world, used to imply that a cryptocurrency hack was some sort of inside job, enabled or carried out on purpose.
Watch out for self-styled recovery experts who contact you after a DeFi catastrophe.
One of the most common types of comment scam we see on the Naked Security site is the "Unsolicited funds recovery testimonial".
These comments, usually aimed at articles in which we discuss cryptocoin blunders, pretend that the commenter lost out badly in a cryptocurrency sting, yet recovered most or all of their funds by contacting company X, or individual Y, or social media account Z. These fake adverts for fraudulent money-back services may sound tempting, especially if they claim to offer some sort of "No-win-no-fee" service.
The truth is that cryptocoin funds siphoned off in pseudo-anonymous attacks of this sort are rarely recovered, even when law enforcement and the courts are actively involved.