PANews reported on December 17th that, according to Decrypt, the U.S. Federal Trade Commission (FTC) announced on Tuesday that it has submitted a proposed settlementPANews reported on December 17th that, according to Decrypt, the U.S. Federal Trade Commission (FTC) announced on Tuesday that it has submitted a proposed settlement

The US FTC has ordered Nomad's operators to compensate users for the $186 million cross-chain bridge attack in 2022.

2025/12/17 09:42

PANews reported on December 17th that, according to Decrypt, the U.S. Federal Trade Commission (FTC) announced on Tuesday that it has submitted a proposed settlement to Illusory Systems Inc., the operator of the crypto cross-chain bridge Nomad, regarding the 2022 cyberattack that resulted in the theft of almost all funds from Nomad. Under the proposed settlement, Illusory Systems would be prohibited from making false statements about its security measures, required to implement a formal information security program, undergo independent security assessments every two years, and return any recovered but not yet returned funds to affected users. The agency stated that the attack resulted in the theft of approximately $186 million in digital assets, with consumer losses exceeding $100 million.

In its complaint, the FTC stated that Nomad claimed "security first" in its marketing but failed to adequately test its code, maintain clear vulnerability reporting and incident response processes, and lacked basic safeguards. The August 2022 attack stemmed from a critical vulnerability introduced by a code update, and the platform's lack of an effective incident response system prevented it from promptly stopping the loss of funds. Earlier this year, Israeli authorities arrested Alexander Gurevich, accusing him of launching the attack on Nomad's cross-chain bridge. Police stated that he was detained at an Israeli airport while attempting to flee to Moscow after legally changing his name to evade capture.

Market Opportunity
Talus Logo
Talus Price(US)
$0.01327
$0.01327$0.01327
+8.14%
USD
Talus (US) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Solana Faces Massive DDoS Attack Without Performance Issues

Solana Faces Massive DDoS Attack Without Performance Issues

Solana successfully countered a major DDoS attack without affecting users. The network maintained transaction confirmation times around 450 milliseconds. Continue
Share
Coinstats2025/12/17 13:08
A ‘Star Wars’ Actor Rewrites The Entire New Trilogy They Starred In

A ‘Star Wars’ Actor Rewrites The Entire New Trilogy They Starred In

The post A ‘Star Wars’ Actor Rewrites The Entire New Trilogy They Starred In appeared on BitcoinEthereumNews.com. It feels like we don’t hear all that much from actor John Boyega that much, outside of when he’s talking about Star Wars as of late. And in a recent Popverse interview, he went so far as to rework the entire trilogy, in terms of what he’d do differently, as he’s been vocal about what he believed went wrong with the original. Here’s what he said: “It would be mad. First of all, we’re not getting rid of Han Solo, Luke Skywalker, all these people. We’re not doing that. The first thing we’re going to do is fulfill their story, fulfill their legacy. We’re going to make a good moment of handing on the baton.” “Luke Skywalker wouldn’t be disappearing on a rock … Hell no. Standing there and he’s, like, a projector? I would want to give those characters way more way more” By the end of the trilogy, all three major Star Wars leads are dead. Han Solo killed by his son, Kylo Ren. Luke Skywalker fading into the ether after force projecting himself to face Kylo Ren. Leia had to be written off due to the tragic death of Carrie Fisher during the production of the trilogy. So Boyega would halt at least the first two deaths, as it did come off as strange that “passing the baton” was mainly killing all the big characters. He continues: “Our new characters will not be overpowered in these movies. They won’t just grab stuff and know what to do with it… No. You’ve got to struggle like every other character in this franchise.” This is likely a reference to both Rey and himself. Rey was frequently criticized as a “Mary Sue,” possessing immense power and skill in everything from flying to fighting to the force despite growing up as…
Share
BitcoinEthereumNews2025/09/25 02:37
Discover Mono Protocol: The $2M-Backed Project Built to Simplify Development, Launch Faster, and Monetize Every Transaction

Discover Mono Protocol: The $2M-Backed Project Built to Simplify Development, Launch Faster, and Monetize Every Transaction

Developing in Web3 has often meant navigating fragmented systems, high transaction costs, and complex cross-chain infrastructure. Mono Protocol introduces a new approach that brings clarity and efficiency to this landscape. It focuses on three powerful outcomes: simplify development, launch faster, and monetize every transaction.  By unifying balances, streamlining execution, and integrating monetization at the core, […]
Share
Cryptopolitan2025/09/18 21:28