1/ Our friends at @metagame created an earned NFT as a thank you to whitehats who returned funds from the Nomad Bridge Hack. Head over https://t.co/TWwuJwnRXj to claim it! pic.twitter.com/V87rkGhBEEAugust 23, 2022
A Literal White Hat for Whitehat Hackers
Together, Nomad and NFT company Metagame have produced a non-fungible token that is truly a white wizard’s hat. According to the offer Nomad published, any hacker who recovers at least 90% of the money they stole is entitled to mint the special NFT. The open-source EVM translator developed by Metagame is used to confirm all returns.
The NFT is more of a reward for good behavior than a useful tool. According to the Whitehat Prize website,
“We hope that actions like these will inspire more people to do the right thing. We support the people who do the right thing even for the wrong cause.”
Brennan Spear, the creator of Metagame, feels that rewarding people for doing the right thing will encourage others to continue their good activities for the betterment of the community.
In addition to working with the social Web3 platform Forefront to offer 100 FF tokens, Nomad is also working with Metagame’s NFT. These were valued at $24 at the time of writing. Nevertheless, this deal is only good for the first 50 persons that return their money.
How did People Respond?
When mocking the offer made to entice “good samaritans” to return the money they stole during the bridge raid, Twitter users didn’t hold back. Users were not amused by the offer that Nomad came up with; it is safe to say.
For instance, about the bridge breach that started it all, one person wrote, “Did the Nomad Twitter account get hacked as well.”
Thats what the team come up with to solve the problem? Rewarding hacker with worthless NFT?August 23, 2022
In response to another user’s comment, Metagame clarified,
“We just brought it to Nomad because it was Metagame’s idea, produced by it. They need to concentrate on much more significant issues! Generally speaking, Metagame is centered on earning NFTs.”
The Hacking Incident
The Nomad bridge was breached on August 2, 2022, and $190 million in total value locked (TVL) was taken during the incident.
The exploit was dubbed the first of its type by experts. The breach was purportedly made possible by a weakness in the most recent version of the protocol. The simple procedure was what set it apart. After the initial transaction, all required was replicating the hacker’s original transaction, modifying the recipient’s wallet address, and clicking submits.
Funds Returned So Far
According to Etherscan data, $36.3 million has already been transferred back to the Official Nomad Funds Restoration Address.