Whitehat hackers refund $9M to Nomad


Whitehat hackers have returned around $9 million of the stolen $190 million from Nomad Bridge, Peckshield revealed.

According to the blockchain security firm, the returned amount is roughly 4.8% of the total loss incurred by the bridge.

A breakdown of the returned funds showed that the majority of them were stablecoins. Around $2 million USDT, $3.8 million USDC, $1.2 million FRAX and $150,000 DAI have been returned.

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Other tokens that were returned include SUSHI, WETH, Ethereum (ETH), and others.

The Nomad team had urged the white hat hackers to refund the funds to a designated wallet.

A statement from Nomad also revealed that the firm was “working with TRM Labs, a leading chain analysis/intelligence firm and law enforcement to trace stolen funds, identify recipient wallets, and coordinate the return of funds.”

The crypto bridge protocol also revealed that it was working with custodial firm Anchorage Digital to “accept and safeguard” the retrieved funds.

Nomad refute claims of being warned about the attack

Nomad refuted claims that a Quantstamp’s audit had warned it about the possibility of the hack.

According to the team, the identified issue in the audit was unrelated to the hack.

There had been increased chatter within the crypto community that the Nomad team was warned about a security vulnerability in its code but did nothing about it.

Posted In: Hacks

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Author: Oluwapelumi Adejumo

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