After a $190 million attack, the hacked cryptocurrency business Nomad offers a 10% prize for the restoration of cash.

After losing nearly $200 million due to a severe security flaw, the cryptocurrency business Nomad announced it is paying hackers a prize of up to 10% to recover customer assets.

Nomad begged the attackers to deliver any stolen money to its cryptocurrency wallet. The business says it had so far recovered more than $20 million of the haul in a statement late on Thursday.

According to Nomad, “the bounty is for individuals who come forward right away, as well as for those who have previously returned monies.”

Nomad stated that it will not file a lawsuit against any hackers who give back 90% of the assets they stole since it will regard these people as “white hat” hackers. The “ethical hackers” of the cybersecurity field are comparable to white hats.

It happens after hackers stole tokens valued at over $190 million thanks to a flaw in Nomad’s code. Even if there weren’t enough assets on deposit, users could enter any value into the system and then withdraw the money.

Users didn’t require any programming knowledge to take advantage of the flaw because of its nature. Once others realised what was happening, they jumped in and launched the same assault.
Nomad stated that it is collaborating with law enforcement, the blockchain analysis company TRM Labs, and other parties to track down the cash that were stolen and find the attackers. Additionally, it is collaborating with Anchorage Digital, a certified U.S. bank specialising in the storage of cryptocurrency, to place any funds received.

Add a Comment

Your email address will not be published.