Threat Management

Nomad unveils 10% bounty for fund recoupment in $190M attack

CNBC reports that threat actors behind the hack of cryptocurrency service Nomad have been offered by the firm an up to 10% reward for the return of $190 million in stolen funds. More than $20 million of the hacked funds have already been recovered, according to Nomad, which also noted that it would not pursue legal action against hackers who will help recoup the stolen assets. Blockchain analysis company TRM Labs and law enforcement agencies have been sought by Nomad to help track the stolen funds, as well as determine the perpetrators, while U.S. bank Anchorage Digital has been enlisted to help store recovered funds. Nomad and other cryptocurrency bridges have been increasingly targeted due to their expansive assets and numerous vulnerabilities, said Immunefi Tech Lead Adrian Hetman. More than $2 billion have already been stolen from cross-chain bridges so far this year, according to Chainalysis, which also reported that the attack on Nomad, which involved over 40 hackers, has become the eighth-largest cryptocurrency hack in history.

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