White hat who returned Nomad stolen funds got a useless NFT as a reward, that just serves as a badge of acting in good faith.
Hackers behind the $190 million Nomad Bridge are being rewarded with “whitehat” themed non-fungible tokens (NFTs) if they return nearly all of the assets stolen from the protocol earlier this month.
The special NFT, which merely features a white wizard’s cap, is available from NFT business Metagame and may be minted by individuals who return at least 90% of their stolen assets to Nomad.
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/V87rkGhBEE
— Nomad (⤭⛓🏛) (@nomadxyz_) August 23, 2022
“If you haven’t yet returned funds, you can still do so now! Metagame checks your on-chain tx history automatically,” the Nomad team wrote on Twitter.
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While Metagame creator Brenner Spear said that he has “no clue if it’ll persuade someone to return cash that wouldn’t have otherwise,” the move is part of a larger effort to cultivate and reward ethical conduct in the industry:
“I am supportive of people doing the right things for the wrong reasons. More of the right things will happen, and maybe, people will start doing more of the right things for the right reasons too.”
The non-fungible token has no use other than to serve as a prize to signify an act of good faith. The first 50 persons who return the cash from this promotion will earn 100 FF tokens ($53) via web3 platform Forefront. So the hacker, the White hat who returned Nomad stolen funds got a useless NFT as a reward.
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.
Here’s what happened and why we’re giving status to this elite cohort of whitehats…
— Brenner (@BrennerSpear) August 23, 2022
The Nomad Bridge was first hacked on August 2, after bad actors uncovered a security flaw in Nomad’s smart contracts, allowing them to withdraw cash that did not belong to them through questionable transactions.
According to a post-mortem analysis conducted earlier this month by Coinbase’s principal blockchain threat intelligence researcher Peter Kacherginsky and Heidi Wilder, a senior associate of the special investigations team, hundreds of copycats then joined the fun by copying the same code used to start the hack but slightly changing the target token, token amount, and recipient addresses.
However, the proposal does not appear to have gone over well on Twitter, with many individuals taking the opportunity to mock it. @Huzmond tweeted, “Incentive go brr”
“That’s what the team comes up with to solve the problem? Rewarding a hacker with worthless NFT?” @hinzpak chimed, with the Metagame team responding that “It was Metagame’s idea, and built by Metagame – we just brought it, Nomad. They have much more important things to focus on!.”
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