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Ethical Hackers Return $9 Million To Nomad Following Exploit

Ethical Hackers Return $9 Million To Nomad Following Exploit

“White hat” or ethical hackers that safeguarded the funds on behalf of Nomad during the attack on the cross-chain bridge have begun returning the funds to a wallet address belonging to the company according to a report by blockchain security firm PeckShield. Thus far, about $9 million has been returned, amounting to 4.75% of the total loss.

Following an attack on the cross-chain token bridge Nomad that saw more than $190 million in funds stolen, the company published a wallet address on Wednesday for the recovery of the tokens. Data from Etherscan shows that almost $9 million of the total funds have been returned. Tokens returned so far include $3.75 million in USD coins, $2 million in Tether, $1.4 million in Covalent Query tokens, and $1.2 million in Frax.

The majority of the funds have come from known Ethereum Name Service domain wallet addresses, and these individuals are among the 300 wallets that took part in the hack. However, unlike the hackers, ethical hackers took swift action to ensure the safety of Nomad’s funds during the incident after the protocol requested that they return funds in a Tweet following the attack. The Tweet reads,

Dear white hat hackers and ethical researcher friends who have been safeguarding ETH/ERC-20 tokens, Please send the funds to the following wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154.

In a statement included in the Tweet, it said,

We are actively working with a leading chain analysis firm and law enforcement to trace funds. All involved are prepared to take necessary action in the coming days. If you took ETH/ERC-20 tokens with the intention of returning them, we now have a process for you to do so.

Cryptocurrency custodian Anchorage Digital has been tasked to handle and safeguard the returned tokens.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

 

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