Nomad Has Recovered $22.4 Million After Hackers Stole $190 Million
Data from Etherscan shows that Nomad has received $22.4 million of a $190 million hack after its team declared a reward.
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.
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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