A wallet address associated with Nomad Bridge, recently transferred $1.57 million in ETH to the banned crypto mixer Tornado Cash.
$1.57 million in Ether (ETH) has been transferred from an address linked to the $190 million Nomad exploit to the authorized cryptocurrency mixer Tornado Cash.
A wallet address linked to the Nomad hack has transferred 1,200 ETH into Tornado Cash, according to a warning from blockchain security company CertiK, indicating that the hackers may be withdrawing the money. 12 batches totaling 100 ETH were transmitted by the hacker to the authorized mixer.
One of the top ten biggest cryptocurrency thefts in 2022 involved the Nomad Bridge, which saw the loss of more than $190 million in digital assets. Due to a security flaw, hundreds of exploiters came to the bridge on August 1 to quickly drain its entire value.
According to a research from last year, about 90% of the hack’s participants were copycats who managed to steal digital assets worth over $88 million.
Tokens were locked in a vulnerable smart contract via the Nomad Bridge. Only $30 million has been recovered by the Nomad team thus far, a paltry sum when compared to the loss the platform endured.
The last year of 2022 saw a lot of bridge hacking, with thieves stealing several hundred million USD. While many attackers who took part in the vulnerability did so with malicious intent, some did so with the goal of returning the tokens.
Due to this, a project seized the chance to offer a nonfungible token incentive to anyone willing to restore stolen money to Nomad. Major hacks have affected decentralized finance (DeFi) during the past year.
The bridges connecting various blockchain systems have been successfully used by the hackers for their purposes. In 2022, there were more than $3 billion worth of digital assets housed in the DeFi space alone. Nomad CEO Pranay Mohan provided the following explanation following the attack in August 2022:
“We will not prosecute white hats. But we will continue to work with our partners, intelligence firms, and law enforcement to pursue all other malicious actors to the fullest extent under the law.”
The Nomad team has attempted to restart the bridge during the past two weeks, though. The team has been working very hard to find those missing monies and make the necessary improvements so that the Nomad Token Bridge may be restarted.
Holders of madAssets will be able to access their recovered funds via the revised bridge following the relaunch by using the updated bridge.