Blockchain bridge protocol Nomad is restarting its services 4 months after the $190 million hack.
The crypto industry, which is driven by the blockchain network and provides decentralization, cannot get rid of hack attacks. Projects prepared with smart contracts and algorithmic coding can break out at the slightest gap. The thriving and adopted crypto industry has suffered billions of dollars in hacking attacks. In particular, the bridge and DeFi protocols are among those who are most speechless in this situation. Decentralized transactions such as staking, transfer, and trade can be exposed to hacking attacks if they create network vulnerabilities. At the beginning of August, Nomad lost $190 million due to the hacking attack on the bridge side.
Nomad Will Return User Funds
Bridge protocol Nomad was unable to pay its user funds after the hack attack at the beginning of August. The company, which started its services again after the $ 190 million hacking attack, will also cover the partial losses of its users.
“Since Nomad Token Bridge was hacked, the team has been working hard to recover funds and make the necessary updates to safely restart Nomad Token Bridge,” the company said.
In a statement from the company, it stated that users affected by the hack attack can make transactions through CoinList. Hack victims are required to complete KYC verification on the CoinList exchange. The company stated that KYC verification is required for refunds to be integrated into compliance norms.
