Just 10% of $190M Lost in Nomad Bridge Exploit Saved So Far
Crypto News

Just 10% of $190M Lost in Nomad Bridge Exploit Saved So Far

1d"
3 months ago

The project has established an official address where white hat hackers and ethical security researchers can return funds.

Just 10% of $190M Lost in Nomad Bridge Exploit Saved So Far

Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts

Nomad Bridge is facing an uphill struggle as it battles to recover the $190 million stolen in a recent exploit.

The project has established an official address where white hat hackers and ethical security researchers can return funds.

So far, data from Etherscan shows that $16.5 million has been sent to this address.

The vast majority of it is in the form of USD Coin — with $2 million apiece of Wrapped Bitcoin, Tether and DAI recovered.

Millions of dollars worth of other altcoins were also transferred.

Whereas black hat hackers are often motivated by financial gain, white hat hackers are driven by highlighting security vulnerabilities.

Nomad says it is continuing to investigate the breach with the assistance of TRM Labs and law enforcement to identify recipient wallets and coordinate the return of funds, adding:

"As the investigation continues, all involved are preparing to take necessary action in the coming days, so please keep in mind that the timeliness of funds return is important."

The ETH and ERC-20 tokens delivered by white hat hackers are being safeguarded by Anchorage Digital.

Worryingly, the $16.5 million represents less than 10% of the funds taken in the attack.

2 people liked this article