The Federal Trade Commission (FTC) has ordered the operator of Nomad to repay users following a $186 million hack of the cross-chain bridge in 2022, according to reports. Regulators stated that Illusory Systems, the operator, misled users regarding the security measures in place. The FTC also alleges that the company failed to prevent the exploit that led to the significant loss of funds from the Nomad bridge. The action underscores the regulatory scrutiny of crypto platforms and their responsibility to protect user assets.

The Federal Trade Commission (FTC) has ordered the operator of Nomad to repay users following a $186 million hack of the cross-chain bridge in 2022, according to reports. Regulators stated that Illusory Systems, the operator, misled users regarding the security measures in place. The FTC also alleges that the company failed to prevent the exploit that led to the significant loss of funds from the Nomad bridge. The action underscores the regulatory scrutiny of crypto platforms and their responsibility to protect user assets.