October 3, 2022

Nomad has announced a reward of up to 10% for the return of stolen funds from the Nomad bridge. In an announcement and a tweet on the website, the company publicly provided a wallet address to send the funds to.

The bonus applies to anyone who shows up from now on or has already refunded. At the time of writing, Nomad has raised more than $20 million.

The Nomad token bridge suffered a massive hack on August 2nd. This incident was one of the largest in the history of crypto breaches, with nearly $200 million in crypto assets stolen. However, the platform wasted no time reaching out to its community and hackers.

In an official statement, Pranay Mohan, the co-founder and CEO of Nomad, commented:

“The most important thing in crypto is the community, and our number one goal is to restore bridged user capital.”

In this vein, Nomad will consider any hacker who returns at least 90% of the total hacked funds as a white hat hacker. White hat hackers are sometimes referred to as “ethical hackers”. Although these hackers usually use the same methods as black hat hackers, they usually have permission from the website owner which makes their hack legal. White hats are often used for the best platform safety equipment.

Related: $2 billion in crypto stolen from cross-chain bridges this year: Chainalysis

While Nomad will consider compliant hackers to be white hat, Mohan also commented that the platform will “continue to work with our partners, intelligence companies and law enforcement to pursue all other malicious actors to the fullest extent.” degree under the law”.

In the days following the hack, Nomad denied any claims of overlooking system bugs that could have created room for such a compromise.

Currently, the platform has announced that it is working in conjunction with TRM Labs and law enforcement to continue to track down the hackers and return stolen funds.