2025-12-16 22:50:16

Do you remember the Nomad cross-chain bridge attack in 2022? A serious vulnerability introduced by a code update directly caused consumer losses of over $100 million. Now there is a new development— the U.S. Federal Trade Commission (FTC) has reached a proposed settlement with the operator Illusory Systems Inc.

This incident is quite typical. The June update was originally meant to optimize the bridging functionality, but it ended up opening a door for attackers. The scale of the loss was so large that it shook the entire industry.

From a regulatory perspective, what does this FTC action mean? In simple terms, high-risk applications like cross-chain bridges cannot escape responsibility just because they are decentralized. When it comes to consumer fund safety, even crypto projects must undergo regulatory scrutiny. The takeaway for the entire DeFi ecosystem is—security audits, code reviews, and risk warnings are no longer optional.

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GasFeeVictim

· 16h ago

100 million dollars just gone like that, and you still have the nerve to talk about optimization... Truly unbelievable. Oh wait, FTC's move this time is actually quite tough. Finally, someone is going to put a stop to these wildly growing projects. Code audits should have been mandatory long ago, or else everyone would just follow Nomad's example, right? Cross-chain bridge security incidents keep happening one after another, it feels like the industry hasn't learned its lesson. Decentralization ≠ irresponsibility. Well said, it's time to wake up.

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ChainSherlockGirl

· 12-16 23:19

Haha, $100 million in tuition fees. How many people's wallets does it take to gather that... Based on my analysis, this move by FTC is actually a warning to the entire bridge ecosystem. Decentralization doesn't mean passing the buck; if you need to pay, you still have to pay.

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GateUser-c799715c

· 12-16 23:19

100 million dollars just gone like that, code audits really need to be taken seriously How many projects can a single code review save... It's another update causing trouble, did we learn to be smarter this time? Decentralization isn't a get-out-of-jail-free card, if you should be penalized, you still have to face it Cross-chain bridges are an eternal pain, security really can't be neglected

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TideReceder

· 12-16 23:16

Haha, Nomad's incident is still fresh, and another 100 million dollars just disappeared. FTC is serious now, it seems that the shield of decentralization can no longer hide the issues; ultimately, you have to be responsible for the money. Code audits should really become mandatory rather than optional, otherwise how can we justify the users' funds? One update causing a failure is a very deep lesson. Regulators are knocking on the door, indicating that the wild growth period of the crypto space is probably coming to an end.

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faded_wojak.eth

· 12-16 23:16

100 million USD gone just like that, "decentralization" can't stop the fate of being exploited --- Once again, a code update causes a failure. These developers really need to learn their lesson --- Only after FTC stepped in did we realize that cross-chain bridges are completely under regulatory scrutiny --- Talking about Nomad makes me angry. Those who followed the trend and got in might still be crying now --- Optimizations causing vulnerabilities? That’s such a ridiculous operation haha --- Decentralization also means being responsible to users, this is the right attitude --- If security audits were truly done well, would such incidents happen? --- It feels like current DeFi is playing with fire; a slight mistake and you could lose everything --- An update directly evaporated 100 million USD. The development team's experience must be huge --- FTC has seized the handle of the cross-chain bridge. This industry will probably become more regulated in the future

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