Nomad Has Recovered $22.4 Million After Hackers Stole $190 Million

August 5, 2022 - Around 2 mins mins to read

Data from Etherscan shows that Nomad has received $22.4 million of a $190 million hack after its team declared a reward.

Nomad Has Recovered $22.4 Million After Hackers Stole $190 Million

The $9 million that ethical hackers sent back to Nomad on Wednesday has more than doubled in value thanks to the recovered funds. After Nomad announced a 10% bounty on Thursday, more money was found.

More than 300 addresses used Nomad’s cross-chain bridge, a feature that enables users to transfer ERC-20 tokens across Ethereum, Moonbeam, Evmos, and Avalanche, to take $190 million in total on August 1.

Nomad developers exposed the vulnerability – Hacker

The bridge had a significant weakness that was made public and allowed money to be siphoned off. During a smart-contract update, Nomad developers exposed the vulnerability.

The company promised that no legal action would be taken against individuals who returned the tokens to a designated return address, and it made the announcement on Thursday that it would pay the 10% reward to everyone who did so.

Update: Nomad Bridge Hack Bounty

(see below for details)

Please send the funds to the official Nomad recovery wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154 https://t.co/8gO1xVl5IC pic.twitter.com/8D7SvbDQlO
— Nomad (⤭⛓????) (@nomadxyz_) August 4, 2022

Nomad claimed that it is working with law enforcement organizations to look into the event. It has also teamed up with the on-chain analytics company TRM Labs to monitor the transfer of money among the addresses used in the hack.

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