Thursday, August 11, 2022

Ethical hackers recover $9 million for Nomad after $190 million stolen

According to a report by blockchain security firm PeckShield, ethical hackers aka white hat hackers who secured funds on behalf of the cross-chain token bridge Nomad during an attack on crypto, returned funds to wallet addresses belonging to the company. has started doing. In this way, about 9 million dollars (about Rs 71 crore) have been returned so far, which is about 4.75 percent of the total loss. Following the attack on Nomad, in which more than $190 million (approximately Rs 1,505 crore) was stolen, the company published a wallet address on Wednesday to recover the tokens.

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Data from Etherscan shows that the tokens returned so far include $3.75 million in USD Coins, $2 million in Tether (about Rs 15.8 crore), $1.4 million in Covalent Query tokens (about Rs 11 crore), and $1.2 million in Frax (approximately Rs. approx Rs.9.5).

Most of the funds came from known Ethereum Name Service Domain wallet addresses, and these individuals were among 300 wallets participating in the hack. Ethical hackers, however, took prompt action to ensure the safety of Nomad’s funds during the incident, when the protocol requested a refund in a tweet following the attack.

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The security firm has estimated that the three key addresses still hold about 50 percent of the stolen crypto. 10 percent of these hackers have ENS domain addresses and they hold around $6 million (approximately Rs 47.5 crore) in stolen funds. The Nomad team has confirmed that they are actively collaborating with legal agencies and a top chain analysis company, TRM Labs, to find funds.

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After recovering more than $20 million (about Rs 158 crore) so far, Nomad said the company is offering hackers a reward of up to 10 percent for obtaining user funds.

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