HomeCoinsEthereum (ETH)Nomad has recovered $22.4 million after hackers drained $190 million

Nomad has recovered $22.4 million after hackers drained $190 million

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According to data from Etherscan, $22.4 million or 11.7% of the $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.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is a reporter who has covered the ins and outs of the tech industry for more than half a decade. Prior to joining The Block, Vishal worked for media firms like Crypto Briefing, IDG ComputerWorld and CIO.com. Follow him on Twitter @vishal4c.





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