The U.S. Federal Trade Commission (FTC) has reached a proposed settlement with Illusory Systems Inc. regarding the 2022 Nomad cross-chain bridge hack. The incident stemmed from a critical vulnerability introduced during a code update in June 2022, ultimately resulting in consumer losses exceeding $100 million. Under the terms of the settlement, Illusory will be prohibited from misrepresenting its security measures, required to establish a formal information security management system, undergo independent security assessments every two years, and return any unrecovered funds to affected users. The agreement is now in a 30-day public comment period. (Decrypt) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=53670