Nomad hack: Ethical hackers return $9 million to exploited crypto bridge platform

Quick Take

  • Ethical hackers who sought to secure Nomad’s funds during Monday’s $190 million have begun to return the funds.
  • Nomad says it is working with law enforcement to trace the hackers.

“White hat” actors who safeguarded funds on behalf of Nomad during Monday’s $190 million hack have returned the funds to a wallet address belonging to Nomad, according to a report by PeckShield.

Nomad on Wednesday published a wallet address for the recovery of stolen funds. Data from Etherscan shows almost $9 million in crypto tokens taken during the hack have been returned. The crypto tokens returned so far include $3.75 million in usd coin (USDC), $2 million in tether (USDT), $1.4 million in covalent query token (CQT), and $1.2 million in frax (FRAX), among others.

Most of these funds have come from known Ethereum Name Service (ENS) domain wallet addresses. These individuals are among the 300 wallets that participated in the incident. Unlike the hackers, these white hat actors took action to try to secure Nomad funds during the free-for-all heist that ensued. Some of them promised to return the funds once Nomad provided a recovery wallet. White hat or ethical hackers, often put their hacking skills to use in identifying security vulnerabilities in the digital space.

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Nomad has stated that is working with law enforcement and blockchain forensics firms to trace the hackers responsible for the heist. The crypto bridge infrastructure has also said that it is working to patch the vulnerability that led to the theft in the first place. Nomad support cross-chain token transfers among supported networks like Ethereum, Evmos, Moonbeam, and Avalanche.


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