Crypto's No-Fun Hack Week

Exploits of Nomad and Slope Wallet led to millions of losses this week.

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ABOUT

This episode is sponsored by Nexo.io, Chainalysis and FTX US.

One of the biggest challenges to the mainstreaming of crypto is the propensity for novel protocols to be exploited. This week, the Nomad bridge was drained of some $200 million while another vulnerability led to more than 10,000 wallets (largely but not exclusively holding Solana's SOL) being attacked. NLW looks at what happens and what the industry thinks the lessons are.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Boris Zhitkov/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.