August 12, 2022

Nomad announced a reward of up to 10% for returning the stolen funds from Nomad Bridge. In an announcement on the website and tweet, the company publicly provided a wallet address to send money.

The bonus applies to anyone who applies from now on or already returns the money. At the time of writing, Nomad has recovered over $20 million.

The iconic Nomad Bridge was hacked on August 2nd. This incident was among the largest in the history of cryptocurrency hacks, in which nearly $200 million in crypto assets were stolen. However, the platform wasted no time in addressing its community and hackers.

In an official statement, Pranai Mohan, Co-Founder and CEO of Nomad, commented:

“The most important thing in crypto is the community, and our number one goal is to get the money back of our interconnected users.”

In this context, Nomad will consider any hacker who returns at least 90% of the total hacked funds to be a white hat hacker. White hat hackers are sometimes referred to as “ethical hackers”. Although these hackers usually use the same methods as black hat hackers, they usually get permission from the site owner which makes the hack legal. White hats are often used to better equip the security of the platform.

Related: $2 Billion of Cryptocurrency Stolen from Crossbridge This Year: Sequence Analysis

Although Nomad will view compliant hackers as white hat, Mohan also commented that the platform “will continue to work with our partners, intelligence firms and law enforcement to pursue all other malicious actors to the fullest extent of the law.”

In the days following the hack, Nomad denied any allegations of ignoring system errors that could have given way to such a compromise.

Currently, the platform has announced that it is working alongside TRM Labs and law enforcement to continue tracking hackers and returning stolen funds.