7.5 Million Dollars In Nomad Bridge Mining Wallet Suddenly Moved

A wallet related to Nomad bridge mining moved $7.5 million worth of crypto to an unknown wallet. The transfer comes as Nomad is trying to incentivize hackers to return stolen funds.

According to PeckShieldAlert, one of the wallets involved in the Nomad bridge mining transferred approximately $7.5 million in crypto to an unknown wallet address and not the official Nomad recovery wallet address.

Nomad bridge is still working hard to get back the lost funds but the measures put forth by the platform do not seem to be effective as the amount of money collected is at least small compared to the damage of this cross-chain. As of August 8, it is reported that white hat hackers have returned about $32.6 million out of a total of $190 million stolen.

Previously, the platform set up a 10% bounty program to incentivize hackers to return stolen funds. The program description explains that anyone who returns 90% of the money they hacked, keeping the remaining 10%, will be considered “white hat” and will not be subject to legal prosecution.

Most recently, on August 23, Nomad along with Metagame launched the Nomad Whitehat proprietary NFT to incentivize hackers to return the stolen $190 million of the Nomad Bridge.

However, simply depicting the white witch’s hat, is being provided by the NFT company Metagame and can be minted by people who return at least 90% of their stolen funds to Nomad bridge. It is like a symbol for the cup of the hacker who has returned and has no material value. Therefore, this move has received ridicule from the community.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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