• About Us
  • Careers
  • Contact
No Result
View All Result
Tuesday, September 9, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

More Than $36 Million Returned to Nomad Bridge’s Fund Recovery Address

10 August 2022
in Latest News, News
Reading Time: 4 mins read
106 4
More Than 36 Million Returned to Nomad Bridge's Fund Recovery Address

Last week, assets worth $190 million were stolen from Nomad Bridge, a cross-chain interoperability protocol, in what many referred to as “the first decentralized theft.”

Several stablecoins, including USDT, USDC, and Frax, were withdrawn from the bridge during the hack; some of the withdrawals were made by white hat hackers who subsequently offered to return the stolen assets.

Earlier, the Nomad team had requested that white hat hackers return the funds to a designated address.

“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“

As of today, more than $36 million has been returned to Nomad Bridge’s official fund recovery address. 

Etherscan transactions show that the recovery wallet now has cryptocurrency holdings worth $36.4 million. 

The wallet, identified by Etherscan as the “official Nomad money recovery address,” has received WBTC 196 ($4.7 million), ETH 2,179.5 (equal to about $3.9 million), DAI 3.7 million, USDT 5 million, and USDC 9.77 million, as well as various sums of other ERC-20 tokens.

The Nomad team shared the fund recovery wallet on August 3. The team, however, stated that anyone who returned at least 90% of the stolen funds would be considered a white-hat hacker, and Nomad wouldn’t take legal action against them. As a result, the return of purportedly stolen funds gained traction. 

On Monday, the team announced the creation of the Nomad Official Communication Key, which will be used to send on-chain messages to outstanding wallet addresses in order to find more “white hat hackers” and recover more money.

A few months ago, Quantstamp analyzed and audited Nomad Protocol’s code, and the vulnerability that resulted in the hack was discovered. But the vulnerability was tagged as low risk in the report.

The Nomad team labelled the attack a “decentralized robbery” because anyone could participate by copying and pasting the original hack transaction. 

This was due to a bug that caused the Replica smart contract to fail to properly authenticate messages. 

“As a result, contracts relying on the Replica for authentication of inbound messages suffered security failures. This authentication failure resulted in fraudulent messages being passed to the Nomad Bridge Router contract,” the team stated. 

The bridge had a total value locked (TVL) of $190 million prior to the exploit, but the money was drained within a few hours as a result of the hack. According to DeFi Llama, the project has a total value locked (TVL) of $95,963 as of Wednesday, August 10, 2022, 12:21 UTC.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Adedamola Ojedokun

Adedamola Ojedokun

Rose Nnamdi

Rose Nnamdi

Related Posts

source: tipranks.com
Crypto

Eightco Shares Soar 3,000% on Worldcoin Treasury Strategy

9 September 2025
source: vectorseek.com
Stablecoins

Lion Group Shifts $5M in Solana and Sui Holdings Into Hyperliquid’s HYPE

9 September 2025
source: news.bitcoin.com
Stablecoins

Tether and Circle Engage South Korea’s Top Banks to Accelerate Stablecoin Adoption

9 September 2025
source: startupticker.ch
Crypto

SwissBorg Bitcoin App Suffers $41M Solana Hack Prompting Security Concerns

9 September 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

What Are Teardrop Attacks in Crypto?

byOlajumoke Oyaleke
17 June 2025
0

What Are Fractional NFTs, and How Do They Work?

What Are Fractional NFTs, and How Do They Work?

byBlessing Lisafi
7 February 2024
0

Read More

Chain of Thoughts

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

Markets Update

Crypto Wallet Users: How Google Play’s Latest Policy Update Affects You

3 hours ago

Why the UK Needs a Stablecoin Strategy to Stay Globally Competitive

7 hours ago

Do You Really Know Why Kanye West’s YZY Memecoin Fell from $3B to $1.05B?

7 hours ago

Investor Reactions to Spain’s New DeFi Tax Ruling

8 hours ago

Ethereum’s Run Toward $8,000 & the Rise of AI-Crypto Growth Plays

8 hours ago

Crypto Wallet Users: How Google Play’s Latest Policy Update Affects You

11 hours ago
Read More

Events

CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

House of Doge and Bitstamp by Robinhood Announce Strategic Partnership For NYSE:ZONE Treasury

bychainwire
9 September 2025
0

Aster’s Next Era Begins: Airdrop Points Stage 2 Live, TGE Countdown Begins

bychainwire
8 September 2025
0

Bybit Resumes Full Access for Indian Users, Reinforces Commitment to Compliance and Crypto Inclusion

bychainwire
8 September 2025
0

Bybit Establishes New B2B Unit to Drive Institutional Adoption of Digital Assets

bychainwire
5 September 2025
0

Lowkick Studio Launches $SHARDS Token on Top Tier Exchanges for WorldShards MMORPG

bychainwire
5 September 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00