It started with the chaotic $190 million Nomad hack in August 2022. An exploit, or flaw in the code, was found for the bridge, and a colossal crowd of criminals rushed in to loot the funds. In its analysis of the exploit, Immunifi said one problem was: “Staying true to DeFi Principles, this hack was permissionless — anyone could join in.” Plenty of white hat hackers wanted to help but were forced to watch from the sidelines due to the legal risks of pitching in.