Nomad recovered $22.4m after hackers stole $190m

According to statistics from Etherscan, $22.4 million or 11.7% of the $190 million theft, has been returned to Nomad as a result of the team’s reward offer.

The money retrieved is now more than twice the $9 million returned to Nomad by ethical hackers on Wednesday. On Thursday, further cash was recovered in response to Nomad’s promise of a 10 percent prize.

On 1 August, more than 300 addresses withdrew $190 million from Nomad’s cross-chain bridge, a platform that enables users to transfer ERC-20 tokens between Ethereum, Moonbeam, Evmos, and Avalanche.

The bridge’s critical flaw became known and allowed monies to be syphoned off. Developers of Nomad exposed the vulnerability through a smart-contract upgrade.

The organisation declared on Thursday that it would provide a 10% incentive to anybody who returned the tokens to a specified return address, and it guaranteed that no legal action would be taken against such individuals.

Nomad said that it is working with law enforcement to investigate the event. In addition, it has teamed with on-chain analytics company TRM Labs to monitor the movement of cash across addresses implicated in the hack.

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