Nomad announces $19 million bounty for funds lost to recent hack

Nomad has announced that it is offering up to 10% bounty to return funds stolen in the recent Nomad Bridge hack on August 2 .< /p> New

Nomad has announced a bounty of up to 10% for returning stolen funds from the Nomad Bridge. In a website announcement and a tweet, the company publicly provided a wallet address to send the funds.

The bonus is applicable to anyone who shows up from now on or who has already refunded funds. As of this writing, Nomad has recouped over $20 million.

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

Update: Nomad Bridge Hack Bounty

(see below for details)

Please send the funds to the official Nomad recovery wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154 https://t.co/8gO1xVl5IC pic.twitter.com/8D7SvbDQlO

In an official statement, Pranay Mohan, Co-Founder and CEO of Nomad, commented:

"The most important thing in crypto is the community, and our number one goal is to restore funds to bridged users."

In this vein, Nomad will consider any hacker who returns at least 90% of the total funds hacked as a 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 site owner, which makes hacking them legal. White hats are often used to better equip platform security.

Related: $2 Billion in Crypto Stolen from Cross-Chain Bridges This Year: On-Chain Analysis

While Nomad views compliant hackers as white hat, Mohan also pointed out that t...