White hat hackers have returned $32.6M worth of tokens to Nomad bridge
Cointelegraph
Published Aug 08, 2022 03:15PM ET
Updated Aug 08, 2022 05:00PM ET
Mere hours after the Nomad token bridge published an Ethereum wallet address last week for the return of funds following a $190 million hack, whitehat hackers have since returned approximately $32.6 million worth of funds. The vast majority of funds consisted of stablecoins USD Coin (USDC), Tether (USDT) and Frax, along with altcoins.
According to research published by Paul Hoffman of BestBrokers, the vulnerability of the Nomad protocol was highlighted in Nomad's recent audit by Quantstamp on June 6 and was deemed "Low Risk." As soon as the exploit was discovered, members of the public joined the attack by copy-pasting the initial hack transaction, which was akin to a "decentralized robbery." More than $190 million worth of cryptocurrencies were drained from Nomad in less than three hours.
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Written By: Cointelegraph
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