--- title: "Crypto Company Offers Massive Bounty to “White Hat Hackers” After Giant Heist" description: "A cryptocurrency company is offering a massive bounty to its \"white hat hacker friends\" after hackers made off with hundreds of millions." date: "2022-08-05" modified: "2022-08-05" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/crypto-bounty-nomad-hack" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "hackers" - "the digest" --- # Crypto Company Offers Massive Bounty to “White Hat Hackers” After Giant Heist ![A cryptocurrency company is offering a bounty of up to $19 million to its "white hat hacker friends" after hackers made off with hundreds of millions.]() *\Image: Getty Images\* ## Chaos Theory A cryptocurrency company is offering millions of dollars to its "white hat hacker friends" after thieves made off with $190 million in what one cybersecurity expert called a "[frenzied free for all]()." In [a Medium post](), Nomad — a crypto "bridge" service that allows users to transfer assets from one blockchain to another — said that it would give up to ten percent of the lost cryptocurrency to anyone who recovers at least 90 percent of the funds. In [a Twitter post]() about the incident, Nomad addressed its "white hat and ethical researcher friends" and implored those who took some or all of the stolen crypto to send it directly to a specific wallet address. And, perhaps surprisingly, it seems to be working: more than $20 million have already been recovered, [*The Washington Post* reports](). ## Bounty Hunting Awarding [sizable bounties]() to white hats [for identifying bugs]() is [common practice]() in the hacking world and has become [an increasingly **common** response]() to crypto hacks as well. Nomad just wants its money back — and is offering hackers amnesty. "Nomad will consider any party who returns at least 90 percent of the funds they hacked to be a white hat," [a Twitter update]() from the company reads, reiterating that it "will not pursue legal action against white hats." ## Hack the Future According to [data collected by analytics firm ]()[Etherscan](), roughly $20 million or 11 percent of the hacked funds have already been returned, which may take the deal off the table. Nonetheless, it could signal a sea change in the way [crypto companies handle hacks]() — especially given that this is, per the *Washington Post*, the seventh attack on crypto bridges alone in 2022, and the eighth-largest hack in crypto history. **READ MORE:** [Crypto ‘bridge’ Nomad offers 10 percent bounty in $190 million hack]() \[*The Washington Post*\] **More on crypto hacks:** [*Crypto CEO Warns That Exchanges Are "Secretly Already Insolvent"*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()