Nomad retrieves $9 million in Ethereum, Tether, and USD Coin from hackers

Lavina Daryanani

Hackers had drained almost $190 million in crypto from the Nomad bridge a day back. The hack, yet again, brought to light the general weaknesses in the decentralized finance space.

As reported yesterday, stolen tokens included WBTC, Wrapped Ether, USD Coin, Frax, Covalent Query Token, Hummingbird Governance Token, and Card Starter, among others. Unlike other exploits, this attack saw hundreds of addresses receiving funds from the bridge, making it one of the most abrupt hacks in history.

Read More: Nomad Bridge Hacked, Nearly All Funds Drained

4.75% of funds received back in Ethereum, other cryptos

Hackers have sent back $9 million to Nomad in the latest development. The same accounts for approximately 4.75% of the total funds drained. Per blockchain security firm PeckShield, more than 60% of the funds were returned in USDC [$3.7 million] and USDT [$2 million], while $1.2 million was returned to FRAX.

$166.8k and $327.6k were further sent as Ethereum and Wrapped Ethereum tokens. The remaining amount was returned via tokens like SUSHI, GERO, and HBOT.

Nomad’s plea heard?

Earlier during the day, the Nomad’s official Twitter handle had sent out a tweet openly asking the white hat hackers/ethical researchers to send back the drained funds to an Ethereum-based recovery wallet address.

Notably, Nomad had partnered with custodian bank Anchorage Digital to accept and safeguard Ethereum [ETH] and ERC-20 tokens at the said address. The exact details of the hackers are still not known. However, Nomad revealed that it works with a leading chain analysis/intelligence firm to trace the fund flows and identify the recipient wallets.

Stressing on the timeliness of the fund return, it went on to assert,

“All involved are prepared to take necessary action in the coming days.”

The $9 million received was sent back by multiple addresses. PeckShield brought to light that more than half of the stolen funds remain in the following three main addresses: