Nomad Recovers Nearly $20M of Stolen $190M

Recovered funds in Nomad’s official wallet have increased over the past 24 hours

article-image

Blockworks exclusive art by axel Rangel

share

key takeaways

  • Nomad is considering a 10% bounty for hackers who return most of their stolen funds
  • The largest return to date has been 100 ETH ($160,000)

Token bridge Nomad suffered a hack on Monday that resulted in a loss of $190 million in cryptocurrencies. So far, $19.4 million of those funds have been sent back to the protocol.

Nomad created a recovery wallet address in a plea to the “white hat hackers and ethical researcher friends who have been safeguarding ETH/ERC-20 tokens” to return the lost digital assets.

The wallet was set up in association with custodian bank Anchorage Digital. Nomad has since taken to Twitter to thank some of its contributors.

Loading Tweet..

Nomad’s hack resulted from an issue in the code itself, 1KX Research told Blockworks. Nomad developers had accidentally enabled a code setting which automatically verified any transaction script sent to the protocol, as long as they had a default “root” of “0x00.”

The result was a free-for-all involving onlookers rushing to submit illicit transactions, quickly draining the token bridge of all user funds kept inside its associated smart contract.

Nomad has acknowledged that some users wanted “more consistent communications” and apologized for not having “provided that up to this point.”

The firm announced via Twitter that hackers who return at least 90% of the total funds they hacked may be considered for a bounty of up to 10%. 

This incident is the third-biggest cryptocurrency hack this year after the Solana-to-Ethereum Wormhole bridge and the Axie Infinity Ronin bridge exploits, which lost $325 million and $625 million, respectively, valued at the time of the exploits.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

Eve Frontier devs share their vision for crypto-powered space battle

article-image

With Galaxy set to report earnings tomorrow, Rittenhouse Research rated it a strong buy in a recent note

article-image

A new quantum experiment shows that observation changes reality — but investors knew that already

article-image

Solana apps and app tokens could be in for a ‘mass repricing’

article-image

Company looks to bring tokenized equities “to meet the moment in this new regulatory environment,” CEO Brian Armstrong said

article-image

Musings on securities laws, plus Paul Atkins unveiling “Project Crypto” at the SEC