$19 Million Bounty Announced by Nomad to Retrieve Funds Lost to a Recent Hack

Nomad has recently made an announcement in regards to putting a bounty on the stolen funds. The firm has announced that the one to bring them the lost funds will be given a bounty worth $19 million.

Up to 10% Bounty Announced for Stolen Funds

Recently, a hack had taken place on the Nomad Bridge, which resulted in a huge theft of funds. Now, the officials at Nomad have announced that whoever recovers the stolen funds will be given up a bounty equal to 10% of the stolen funds.

The company has made the announcement through its Twitter profile as well as its website. The wallet address has also been provided by Nomad where they want the funds to be sent over.

Nomad has announced that anyone who comes forth with the stolen funds will be granted the bounty. The officials have confirmed that so far, they have recovered $20 million worth of stolen funds.

$200 Million on Nomad

It was on Tuesday when the Nomad token bridge ended up suffering from a major hack. As a result of the hack, $200 million were stolen from the Nomad Bridge.

Nomad confirmed that it wasn’t fiat the hackers were able to steal but they stole funds in the form of cryptocurrencies. However, Nomad did not waste any time and took necessary actions to deal with the situation.

They were quick to respond to the hack and addressed the issue with the entire community. They even addressed the hackers in regards to the hack and demanded they send the funds back.

Comments by Nomad CEO

Pranay Mohan, the CEO, and co-founder at Nomad talked about the number one priority when they suffered from the hack. He revealed that the first thing they did was to ensure that they were able to retrieve the stolen funds of their users.

This is their highest priority and their number one goal. They will not rest until they are able to retrieve the stolen funds of their users.

White Hat Hacker

Nomad has also made a very attractive offer to the hackers who stole away the funds.

Nomad announced that any of the hackers who return 90% of their funds will be considered white hat hackers. This means Nomad will not pursue the hackers any further or no inquiry will be done in order to catch the people behind the hack.

The firm has announced that for the rest of the hackers who do not comply, things will be carried out as normal.

They will continue seeking legal guidance against the hackers who do not comply. They will continue working with the law enforcement authorities, intelligence firms, and their partners to proceed with the investigation.