Nomad Cross-Chain Bridge reopens with updates, has recovered some assets

Sept 21,2022
KingData News: Nomad, a cross-chain interoperability protocol, has released a cross-chain bridge reboot update, which it says makes significant changes to the code to support the reboot, including fixes for vulnerability exploits, patches for the bridge GUI, handling of recovered funds, etc. The code will be released when the audit is complete. nomad says bridging recovered funds back to madAssets is not a simple process, and that users will follow the following process: 1. 1. Bridging madAssets back to Ether will result in an NFT, which describes the type and amount of assets bridged. 2. Using the NFT (e.g. 100 USDC) the NFT grants access to a portion of that asset that is equal to a percentage of the recovered asset. In addition, users who are added to the whitelist will only receive the recovered funds, the recovered funds will be accounted for in tokens, tokens returned in different forms will be released, and Nomad will work with blockchain forensic companies to determine which tokens are affected.
On August 2, crypto KOL 0xfoobar posted that the cross-chain solution Nomad had been hacked, and that WETH and WBTC were being transferred out at a rate of millions of dollars each, leaving $126 million in the contract potentially at risk.
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