News26 August 2022

The wallet used in the Nomad exploit transferred $7.5 million to an unknown address

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One of the wallets involved in the Nomad Bridge hack transferred its assets to an unknown wallet, though it happens during Nomad's bounty program, which encourages hackers to return funds.

A couple of days after Nomad's seed round ended, its bridge was hacked & the company lost about $200 million. Although even more recently Coinbase Ventures, Polygon, OpenSea & others invested $22 million in Nomad.

This hack has its own specificity, but not in the amount of money stolen, it's in the number of addresses involved in the exploit. "300 unique addresses participated in the exploit," as the company itself stated. Some of the hackers had the audacity to impersonate company employees.

After this hack, the company created a 10% bounty program. That is, if anyone involved in the hack returned 90% of the stolen funds and kept 10% would be considered a whitewash* and any harassment, including lawsuits, would cease.

And on August 17 the company said that it had made progress in the bounty program and was already on the path to returning funds. They also said they were engaging with white hackers. And according to Etherscan they've already returned over $30 million.


White hat – is a legitimate, ethical hacker who tests security systems to find vulnerabilities, not to cause harm or gain profit. 

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