The Nomad team announced that the cross-chain protocol would resume soon after the hacker attack, the damage from which in August amounted to more than $190 million.
“After the hack, the team was diligently working to restore the assets and implement the necessary updates for a safe relaunch,” the project’s blog says.
For affected users, a KYC procedure was offered to partially recover the stolen funds. KYC.
To do this, users must bind their wallet address to the platform’s CoinList account. The developers explained that the step is necessary to ensure regulatory compliance.
The verification will take from one to seven days for individual users and from one to three weeks for organizations and associations.
After its completion, participants will receive NFTs reflecting the type and amount of assets to be returned. Funds will be returned proportionally to the amount recovered. The start of the procedure will be announced on the project’s official Twitter and Discord channels.
The tokens cannot be transferred to other people. The NFTs will allow holders to receive any additional funds that will be returned in the future.
The above concerns Ethereum tokens. Assets on other networks can be claimed immediately after completing KYC, since the breach affected only the second-largest cryptocurrency by market capitalization.
The developers updated the protocol’s smart contracts and began testing its interface.
On 2 August 2022, the Nomad was hacked. Analysts estimated the damage from the attackers’ actions at $190 million.
The incidentmade a significant contribution to the total losses in Web3 from hacks and fraud in the third quarter (about $482.7 million), according to Immunefi’s bounty-platform experts.
In August, the Nomad team offered the hackers to return the stolen assets for a 10% reward.
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