FTC Compels Nomad Operator to Repay Users After $186M Crypto Bridge Hack in 2022 – Decrypt
In brief The FTC said Illusory Systems’ Nomad crypto bridge lost $186 million after hackers exploited a poorly tested software update. Regulators alleged the company marketed itself as “security-first” while failing to follow basic coding and incident-response practices. A proposed settlement would require Illusory to return recovered funds, overhaul its security program, and undergo ongoing...
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