Cryptocoin “token swapper” Nomad loses $200 million in coding blunder

Cryptocurrency protocol Nomad (not to be confused with Monad, which is what PowerShell was called when it first came out) 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.” In plain English, it’s supposed to let you swap cryptocurrency tokens of one sort for another, in a trade known in the jargon as bridging. The service is operated by a company going by the name of Illusory Systems, Inc.

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