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Nomad Receives Over $22 Million Back from Hackers

08.08.2022 09:00
by Sviatoslav Pinchuk
1 min read

After a last-week hackers’ attack on Nomad worth $192 million, the crypto bridge now has in its possession $22.4 million of that sum once again.

It seems that Nomad’s tactic of cooperating with “white hat” hackers is working out. Namely, Nomad promised that all hackers who return at least 90% percent of the respective stolen amount will not be prosecuted, and will receive 10% of the amount they stole. Since the promise, the funds are slowly being returned.

ETH, USDC, DAI, WBTC, and CQT tokens were stolen in the attack. Nomad has since received some $400,000 worth of ETH and $21.9 million in other tokens.

Crypto bridges enable traders to transfer assets between different blockchains. Due to them being a relatively new innovation in the world of decentralized finance, they are vulnerable to hacker exploits. In this case, the attackers took advantage of a configuration bug tied to a smart contract, that Nomad relies on for message processing.

 

 

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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