Cryptocurrency

Nomad enticing hackers to return stolen funds in exchange for exclusive NFT

The Nomad Protocol has rolled out the Nomad Whitehat Prize. It’s a brand new scheme underneath which hackers who pillaged the Nomad bridge earlier this month are motivated to return the stolen funds in exchange for a Whitehat-inspired NFT.

Exclusive NFTs and extra

Nomad has teamed up with NFT agency Metagame, with the latter making a non-fungible token of fairly actually a white wizard’s hat. As per the supply shared by Nomad, any hacker who returns at the least 90% of the funds he/she stole is eligible to mint the exclusive NFT. All returns are verified utilizing Metagame’s open supply EVM-translator.

The NFT serves no goal and is supposed as extra of an award for one’s good deeds. The Whitehat Prize website reads,

“We support people doing the right thing even if it’s for the wrong reason, and we hope that things like this will encourage more people to do the right thing.”

Metagame founder Brennan Spear believes that to acknowledge people who do the fitting factor is to incentivize future good deeds for the advantage of the group.

In addition to Metagame’s NFT, Nomad can also be collaborating with social Web3 platform Forefront to supply 100 FF tokens. These, on the time of writing, have been value $24. However, this supply is just legitimate for the primary fifty individuals who return funds.

Twitter responds

Twitter customers didn’t maintain again whereas roasting the supply meant to incentivize “good samaritans” to return the funds they took throughout the bridge raid. In truth, it’s secure to say that customers weren’t amused with the supply that Nomad got here up with.

For occasion, one person tweeted, “Did the Nomad twitter account get hacked as well,” referring to the bridge hack that began all of it. 

In response to one other comment by a person, Metagame got here out to make clear,

“It was Metagame’s idea, and built by Metagame – we just brought it Nomad. They have much more important things to focus on! Metagame is focused on earned NFTs in general.”

The Heist

On 2 August 2022, the Nomad bridge was hacked, an episode throughout which $190 million in complete worth locked (TVL) was stolen.

Experts described the exploit as the primary of its type. A bug in the protocol’s newest improve reportedly enabled the hack. What made it totally different was the easy course of. Following the primary transaction, all one had to do was copy the hacker’s authentic transaction and alter the receiver’s pockets handle, and hit ship.

Data from Etherscan reveals that up to now, $36.3 million have been returned to the Official Nomad Funds Recovery Address.

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