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Nomad has recovered more than $22million after hacking $190 million. Nomad announced that it would pay a 10% reward for token returners.

Data from Etherscan shows that $22.4 Million, or 11.7% of the $190,000,000 hack, has been returned to Nomad. The team announced a reward.

Now, the amount recovered is more than twice what $9 Million ethical hackers sent back Wednesday to Nomad. Nomad offered a 10% bounty Thursday and more funds were recovered.

More than 300 addresses took $190 million collectively from Nomad’s crosschain bridge. This tool allows users to move ERC-20 tokens between Ethereum, Moonbeam and Evmos.

A critical flaw in the bridge made it possible for funds to be drained. Nomad developers introduced the vulnerability during a smart contract update.

The team announced on Thursday that it would pay 10% to anyone who returns the tokens to a particular return address and gave assurances that no legal action will be taken against anyone who did.

Nomad stated that it is working with law enforcement agencies to investigate this incident. To track the funds flowing between addresses affected by the exploit, Nomad has partnered with TRM Labs, an on-chain analytics company.

The post Over $22 Million Recovered by Nomad After $190 Million Hack first appeared on The Daily Encrypt.


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Angie Byrd