Crypto Company Nomad Offers 10% Reward After $190M Hack: Bloomberg

  • Following Monday’s theft of over $190 million from cross-chain cryptocurrency bridge Nomad, the company is offering a bounty to recover the money that was stolen, reported Bloomberg.
  • This hack again brings to attention security vulnerabilities in the digital token sector.
  • RelatedCopy-Paste Hack? $190M Stolen From Coinbase-Backed Crypto Bridge Nomad
  • According to a statement from Nomad, anyone returning at least 90% of stolen tokens will be regarded as a so-called “white-hat hacker” that seeks to draw attention to vulnerabilities over pursuing malicious gains.
  • The reward would effectively be made up of the remaining 10%.
  • “We will not prosecute white hats. But we will continue to work with our partners, intelligence firms, and law enforcement to pursue all other malicious actors to the fullest extent under the law,” stated Pranay Mohan, chief executive officer of Nomad.
  • Based on information from Etherscan, Nomad has so far recovered about $20 million of the $190 million.

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