- The White Hat Hackers (Ethical Hackers) returned $9 million after the Nomad bridge exploits of approx $200 million.
- The hack was dated August 1, which aims at almost $200 million in WETH and WBTC tokens.
- The whole data is shared by the report of a leading blockchain security company, PeckShield.
The blockchain security firm PeckShield’s report shows that ethical hackers targeted $200 million in WETH and WBTC tokens on August 1. Just after this, Nomad shares the wallet addresses to reclaim the money that was protected from the ethical attack.
Nomad Bridge Funds Recovery Process
Dear white hat hackers and ethical researcher friends who have been safeguarding ETH/ERC-20 tokens,
Please send the funds to the following wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154 pic.twitter.com/UF623JSZ8u
— Nomad (⤭
It also shows that “this is the ONLY official fund recovery address,” which reveals the collaboration with custodian bank Anchorage digital. That is responsible for accepting and protecting the returned tokens.
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Returned Token Analysis
PeckShield reveals that the returned tokens were in the ETH, USDC, and USDT. Calculating the $9 million returned tokens consist of 100 ETH tokens worth $164,000 in the current market value. Adding to the list, 3.78 million USDC stablecoins, 2 million USDT stablecoins, 15.8 million CQT covalent query tokens worth $1.38 million, 1.2 million FRAX worth $1.2 million, 200 WETH worth $328k, and $150k DAI stablecoins in between other crypto tokens.
The blockchain security firm identified that the three major addresses still have 50% of stolen cryptocurrencies. While 10% of ethical hackers have Ethereum Name Service (ENS) domain addresses.
In addition, Nomad stated that their team is actively working in collaboration with law enforcement and top blockchain analysis firms. They named TRM Labs for analysing the lost funds. Nomad is a cryptocurrency bridge that provides the swapping of tokens between blockchains.
The other security firm, Elliptic, stated, “The Nomad cross-chain bridge hack was the 8th largest crypto theft ever,” in a blog post shared on Twitter.
— elliptic (@elliptic) August 2, 2022
The returned tokens amount analysis is still on the count. But against this White Hat Hacking, many top blockchain firms are actively chasing the source of this hack.
Source: https://www.thecoinrepublic.com/2022/08/04/the-returned-token-from-white-hat-hackers-approx-9-million/