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The Nomad Bridge Incident & OccamX’s Actions to Protect Users

August 2, 2022The Nomad Bridge Hack

On August 2 at 1:25 AM CET the Nomad team announced on their Twitter that an incident with the Nomad bridge was being investigated. Since then, a number of media outlets covered the incident and (independent) researchers have looked into the issue and all have unanimously agreed that the Bridge has been hacked and over US$150 million has been drained.The Nomad team is taking all possible steps to recover the funds. A quick rundown of the incident can be found here.

The Effect on OccamX Users

Note that OccamX has NOT been hacked — i.e. any remaining funds in the pools can still be withdrawn by users if desired. However, funds from the bridge contracts have been stolen. The list below includes all of the affected assets:

  • madDAI


  • madWETH


  • madUSDC


  • madUSDT


  • madWBTC


  • madFRAX


  • madFXS (formerly madFTX)


OccamX’s Actions to Protect Users

  1. At this time, the OccamX team has taken steps to remove these assets from the default tokenlist in order to ensure that further possible losses are prevented.

All Pools and Farms that contain Nomad-bridged assets will disappear from the Pools and Farms page, as the OccamX application displays only those pools and farms which contain assets from the user’s tokenlist. If you have positions (liquidity) in pools with Nomad-bridged assets, please add the asset to the token list manually — in this way you will be able to operate with them as you did so in the past. You can find out how to add a custom token here.

2. Furthermore, the OccamX team will remove the link to the Nomad bridge from the application to ensure that further losses from using the bridge are prevented.

3. On Wednesday, August 3 at 20:00 CET (18:00 UTC) the liquidity mining rewards for those pools which contain Nomad assets will be suspended. The OCX earned by the users who have been using these farms will be available for claiming once the token is available.

OccamX will also deploy a fix so all farms/pools in which the user has a position or unclaimed yield will be displayed, regardless of whether they are in the tokenlist or not.

We wish the Nomad team a full recovery from the hack. Should they find an amicable solution, we will cooperate fully with them and enable the respective functionality back on OccamX.

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