{"id":47839,"date":"2022-08-05T19:43:59","date_gmt":"2022-08-05T19:43:59","guid":{"rendered":"https:\/\/www.threatshub.org\/blog\/nomad-to-crypto-thieves-please-give-us-back-90-keep-10-as-a-reward-deal\/"},"modified":"2022-08-05T19:43:59","modified_gmt":"2022-08-05T19:43:59","slug":"nomad-to-crypto-thieves-please-give-us-back-90-keep-10-as-a-reward-deal","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/nomad-to-crypto-thieves-please-give-us-back-90-keep-10-as-a-reward-deal\/","title":{"rendered":"Nomad to crypto thieves: Please give us back 90%, keep 10% as a reward. Deal?"},"content":{"rendered":"

Cryptocurrency bridge Nomad sent a message to the looters who drained nearly $200 million in tokens from its coffers earlier this week: return at least 90 percent of the ill-gotten gains, keep 10 percent as a bounty for discovering the security flaw, and Nomad will consider this a “white-hat” hack, as opposed to plain old theft, and not take legal action.<\/p>\n

The crypto firm proposed this deal<\/a> via tweet, along with the wallet address on Ethereum to which funds should be return. It also warned: “Nomad is continuing to work with its community, law enforcement and blockchain analysis first to ensure all funds are returned.”<\/p>\n

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Update: Nomad Bridge Hack Bounty(see below for details)Please send the funds to the official Nomad recovery wallet address on Ethereum: 0x94A84433101A10aEda762968f6995c574D1bF154 https:\/\/t.co\/8gO1xVl5IC<\/a> pic.twitter.com\/8D7SvbDQlO<\/a><\/p>\n

\u2014 Nomad (\u292d\u26d3\ud83c\udfdb) (@nomadxyz_) August 4, 2022<\/a><\/p><\/blockquote>\n

Nomad previously noted<\/a> it was working with blockchain analysis outfit TRM Labs and custodian bank Anchorage Digital to trace the flow of stolen funds and coordinate the safe return of the tokens.<\/p>\n

A subsequent blog post highlights the fact that even though Nomad is willing to let the thieves off easy for the heist, it can’t guarantee<\/a> that law enforcement will turn a blind eye. <\/p>\n

In a FAQ section of the blog, Nomad answers the question: Am I safe from civil liability or criminal prosecution if I retain 10 percent of the funds I took? The crypto firm reiterates that it will not pursue any legal action against what it sees as white hats. And then it added:<\/p>\n

In other words, as ethical hackers have found out the hard way in earlier research efforts, the US Justice Department may still press charges<\/a>. At the time of publication the DoJ didn’t respond to The Register<\/em>‘s inquiry about the likelihood of this happening.<\/p>\n

The company confirmed the heist<\/a> on Tuesday. After the initial attack, folks with several dozen addresses<\/a> joined in the looting by copying transactions and inserting their wallets to receive funds.<\/p>\n

While at least $17 million<\/a> has been recovered, the cyber-ransacking highlighted the security risks around these bridges with recent security snafus totaling more than $1 billion in swiped funds: Ronin Bridge ($600 million<\/a>); Qubit Bridge ($80 million<\/a>); Wormhole Bridge ($320 million<\/a>); Meter.io Bridge ($4.4 million<\/a>); and Poly Network Bridge ($610 million that was returned<\/a>). <\/p>\n

Nomad’s blog post also explained the reasoning behind waiting a few days to announce the so-called bounty.<\/p>\n