The US FTC (FTC) said Tuesday that it has proposed a settlement to Nomad cryptocurrency bridge operator Illusory Systems Inc. in connection with the 2022 hack that resulted in nearly all of the platform's funds being stolen.
Under the proposed settlement, Illusory would be prohibited from misrepresenting its security measures and would be required to implement a formal information security program, undergo an independent biennial security evaluation, and return any recovered funds outstanding to affected users.
The agency said the breach resulted in the theft of about $186 million in digital assets, causing more than $100 million in losses to consumers.
FTC Orders Nomad Operator to Pay $186 million to Users After Crypto Bridge Hacked in 2022
2025-12-16 23:05:02
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