$186 million hacking case finally comes to an end: how regulators will penalize negligent crypto bridges

【Crypto World】The 2022 Nomad Bridge theft incident has finally received an official regulatory response. The U.S. Federal Trade Commission has reached a settlement with the operators—requiring the full return of nearly $186 million in funds to the affected users.

Details of this settlement are noteworthy: firstly, prohibiting the company from further exaggerating its security capabilities, which is ironic since they clearly cannot do so; secondly, requiring the establishment of a formal security system, with third-party assessments every two years, effectively placing a “tight leash” of regulation.

What’s even more heartbreaking is the root cause of the incident—hidden vulnerabilities in code updates, security testing was essentially useless, and emergency response was painfully slow. The FTC specifically pointed out a detail: at the time of the incident, an engineer was on a plane, making it impossible to stop the loss immediately. What does this imply? It’s not just technical negligence but also chaos in risk management.

For the entire crypto industry, this case serves as a warning: security cannot just be lip service; real investment is needed. Projects claiming “military-grade defense” but cutting corners will eventually attract regulatory scrutiny.