CoinShots Logo
Nomad Has Recovered $22.4M After Hackers Drained $190M
More than $22 million has been recovered by Nomad after a $190 million hack. The team announced that it would pay a 10% reward to those who returned tokens.
Ankita K.
2:33 5th Aug, 2022
Frauds

According to data from Etherscan, $22.4 million of a $190 million hack has been returned to Nomad as its team has announced a reward.

The recovered amount is now more than double the $9 million that ethical hackers sent back to Nomad on Wednesday. More recovered funds followed Nomad's offer of a 10% bounty on Thursday.

On 1 August, more than 300 addresses collectively took $190 million from Nomad's cross-chain bridge, a tool that lets users move ERC-20 tokens among Ethereum, Moonbeam, Evmos and Avalanche.

The bridge had a critical vulnerability that became public and made it possible to drain funds. The vulnerability was introduced by Nomad developers during a smart-contract update.

The team announced on Thursday that it would pay the 10% reward to anyone who returned the tokens to a specific return address, and offered assurances that no legal action would be taken against those who did so.

Nomad said it is collaborating with law enforcement agencies to investigate the incident. It has also partnered with on-chain analytics firm TRM Labs to track the flow of funds across addresses involved in the exploit.

Source



CoinShots Logo

Social

Get in touch:

© 2022 Coinshots (AtlasZero LLC). All rights reserved.