10% bounty announced for whitehat hackers

10% bounty announced for whitehat hackers

A 10% bounty has been announced for hackers who return 90 of the total funds in their possession. Whitehat hackers have returned $22 million as of August 5.

The bridge was drained of $190.7 million on August 1 after a hacker stole 100 wBTC worth $2.3 million. According to the update, whitehat hackers who return 90% of the funds to the official recovery address will not be subject to any legal action.

In the wake of the exploit, some ethical friends of Nomad came up to identify as being part of the exploit and promised to return the funds.

In a follow-up tweet from Nomad on August 4, it appreciated some addresses that contributed to returning $16.6 m to its recovery address.

On August 5, PeckShield confirmed that $22 million has been recovered. The data shows 11.6% of the stolen funds have been recovered, while 50% of the amount has not been moved since the hack.

Stablecoins make up a large portion of the returned assets, with $6 million USDC, $2.88 million DAI, $2.81 million QCT, $2.1 million wBTC and $2 million USDT.

Nomad is working with law enforcement agents and blockchain firms to make sure all users funds are returned. Co-founder and CEO of Nomad Pranay Mohan commented:

As a warning to hackers who will not take the peaceful route, Nomad said it has engaged all relevant agencies to trace the stolen funds and prosecute the parties behind them accordingly.