The hackers who once stole $190 million worth of Nomad funds have also returned the same. Therefore, in order to thank the hackers, named Whitehats, the Nomad Bridge announced a white hat-themed NFT. For those who do not know, the hack took place at the beginning of August.
On the 23rd of August, Nomad announced the Whitehat Prize on their Twitter handle through a tweet.
On the tweet, Nomad announced that they have joined hands with Metagame, an NFT firm, in order to bring out the earned NFT for the White Hats. In fact, anyone who has returned at least 90% of the stolen Nomad funds is entitled to mint this NFT. In fact, Nomad previously tweeted asking the hackers to return the stolen funds.
However, this incentive has not been received well. If you wish to know more about the matter, then this article is the perfect stop for you. Keep reading the article for more details about the NFT that Nomad is offering for returning the stolen Nomad funds.
The White Hat NFT
Recently, Brenner Spear, the founder of Metagame spoke to Cointelegraph. There he pointed out that he is not sure if the NFT will encourage hackers to return the funds. At the same time, Brenner also stated that the NFT is an attempt to encourage and support good behaviour in the sector. In fact, the Metagame founder also stated that such gestures would encourage people to do “more of right things for the right reasons too”.
In fact, the NFT is without any essential function. It merely serves as a trophy that symbolizes a good act. In fact, against this promo, the first 50 people to return stolen Nomad funds will also get 100 FF tokens. The worth of these tokens stands around $53. Brenner also took to Twitter to announce the arrival of the NFTs, on August 23.
We at @Metagame have teamed up with @nomadxyz_ @nomadxyz_, @divine_economy @divine_economy, and @forefront__ @forefront__ to produce a free NFT exclusively mintable by Nomad whitehat hackers.— brenner.eth (@BrennerSpear) August 23, 2022
Here’s what happened and why we’re giving status to this elite cohort of whitehats…
On the 2nd of August, the hackers initially hacked the Nomad Bridge. The hack was initiated after the hackers located a security loophole in Nomad’s smart contracts. In fact, this loophole was a serious one that enabled hackers to steal funds via dubious transactions. In fact, from an analysis conducted by Peter Kacherginsky, and Heidi Wilder, the location of the loophole then attracted a host of copycats.
These copycats simply copied the same code for starting the hack.
How was The NFT Received?
On Twitter, through various posts, it appears that many users have not received the NFT in a good sense. In fact, an account named Huzmond took to Twitter to mock the NFT. The account twitted – “Incentive go brrrrr”. Yet many other users like hinzpak questioned Nomad’s attempt of solving the hacking issue through rewards. Therefore, it seems that the majority of the netizens have not accepted the idea of rewarding incentives for returning the Nomad funds.
This is all about the NFT that Nomad has announced for the White Hats to thank them for returning the Nomad funds.
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