The U.S. Federal Trade Commission has initiated a proposed settlement with Illusory Systems, operator of Nomad, due to a cyberattack in 2022 that resulted in a loss of approximately 186 million USD in digital assets.
The attack caused users to lose over 100 million USD. Illusory Systems is now required to implement security measures and return recovered funds to users. The incident highlighted significant failures in security protocols and incident response.
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