Nomad Archives - Times Tabloid https://timestabloid.com/tag/nomad/ Cryptocurrency and Blockchain Tabs Mon, 08 Aug 2022 05:50:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png Nomad Archives - Times Tabloid https://timestabloid.com/tag/nomad/ 32 32 Nomad Offers $19 Million Bounty and Promises to Tag $190 Million Bridge Hackers as White Hats https://timestabloid.com/nomad-offers-19-million-bounty-and-promises-to-tag-190-million-bridge-hackers-as-white-hats/ Mon, 08 Aug 2022 05:46:26 +0000 https://timestabloid.com/?p=8470 Nomad, the recently hacked Ethereum (ETH) Bridge, has announced that it is offering a 10% bounty to Nomad Bridge hackers, who absconded with up to $190 million worth of crypto assets a couple of days ago. In the announcement, Nomad pointed out that it’s ready to receive 90% of the stolen funds and recognize the […]

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]]> Nomad, the recently hacked Ethereum (ETH) Bridge, has announced that it is offering a 10% bounty to Nomad Bridge hackers, who absconded with up to $190 million worth of crypto assets a couple of days ago.

In the announcement, Nomad pointed out that it’s ready to receive 90% of the stolen funds and recognize the hackers as white hats, without putting their initial intention into account.

Read Also: Hacker Receives $6 Million from Aurora Labs for Saving 70,000 ETH from Getting Stolen

The statement shared on Twitter after the major hack read as follows:

“Nomad is announcing an up to 10% bounty to Nomad Bridge hackers where Nomad will consider any party who returns at least 90% of the total funds they hacked to be a white hat. Nomad will not pursue legal action against white hats. Funds must be returned to the official Nomad recovery wallet address: 0x94a84433101a10aeda762968f6995c574d1bf154.

Please be wary of impersonators and other scams.

Nomad is continuing to work with its community, law enforcement and blockchain analysis firms to ensure all funds are returned.”

$35.8 Million Recovered So Far

In an update on the 5th of August, Nomad assured the users who lost their assets in the hack that its team is currently working hard to recover funds from the exploit.

The update says that the firm has collaborated with TRM Labs and law enforcement in a bid to recover the stolen funds from the hackers.

Read Also: Hacker Who Got $250k Bounty from Coinbase for Exposing Bug That Made Him Buy 50 BTC Using 50 SHIB

Nomad noted:

“Nomad is actively working with TRM Labs and law enforcement to recover funds from black hat hackers. The Nomad Bridge hack has an unprecedented amount of hackers with traceable information tied to their addresses. There will be consequences for these actors.”

The firm also assured that it will not pursue legal action against white hat hackers who return the assets in their possessions to the official recovery wallet address shared after the attack.

Another update posted a couple of hours ago shows that the hackers have started to respond positively. According to Nomad, a total of $35.8m of the stolen funds has been recovered:

“To-date, $35.8m has been returned to the Nomad recovery wallet from 39 wallet addresses. Thank you to all the white hats who have returned funds.”

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]]> New Ethereum to Cardano Bridge Launches as Cardano Advances in Terms of Interoperability https://timestabloid.com/new-ethereum-to-cardano-bridge-launches-as-cardano-advances-in-terms-of-interoperability/ Fri, 27 May 2022 07:29:05 +0000 https://timestabloid.com/?p=6108 Cardano, the world’s largest proof-of-stake (PoS) blockchain, has attained a new milestone in terms of interoperability as Iagon’s Ethereum to Cardano token bridge goes live in beta version. Iagon, a Cloud Computing Platform offering access to a decentralized IAG-powered Shared Storage Economy, made this new development known in a tweet on the 25th of May […]

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]]> Cardano, the world’s largest proof-of-stake (PoS) blockchain, has attained a new milestone in terms of interoperability as Iagon’s Ethereum to Cardano token bridge goes live in beta version.

Iagon, a Cloud Computing Platform offering access to a decentralized IAG-powered Shared Storage Economy, made this new development known in a tweet on the 25th of May 2022. The report says that the firm aims to boost the growth and development of the Cardano ecosystem.

Read Also: WingRiders DEX That Brings USDT and USDC Stablecoins to Cardano Has Launched On Mainnet

Iagon tweeted, “Iagon Ethereum-Cardano #TokenBridge is launched. We believe that our solution powered by @Milkomeda_com & @nomadxyz_ contributes @Cardano development & growth.”

Back in April 21st, Iagon announced its migration from the Ethereum to Cardano blockchain. Around that time, it also announced that it had moved 500 million IAG tokens to Cardano, representing 50% of IAG’s total supply.

According to the Iagon team, the purpose-made token bridge was built to enable the conversion of ERC-20 IAG tokens to CNT IAG tokens, to make tokens on both Cardano and Ethereum blockchains interact.

Read Also: Hoskinson to Buterin on Blockchain Development in Africa: “Dude, Where Have You Been?”

It’s also said that the new bridge will be powered by solutions provided by Milkomeda, a layer-2 protocol. The platform also plans to include support for other ERC20 projects.

In late March 2022, Cardano saw notable progress in its advancement in terms of interoperability after the Milkomeda Foundation announced the launch of Milkomeda C1.

Cardano CI is a Layer 2 Ethereum Virtual Machine (EVM) compatible sidechain that enables the deployment of Ethereum decentralized applications (DApps) to the Cardano blockchain.

After this development, the ADA-AGIX converter was also launched. This enabled SingularityNET token AGIX to become interoperable with the ADA, the native token of the Cardano blockchain.

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