FTC Charges Crypto Firm Over $186 Million Hack Linked to Lax Security
December 20, 2025
December 20, 2025
WASHINGTON, Dec. 20 (TNSFR) -- The Federal Trade Commission has charged Illusory Systems Inc. dba Nomad, Centerville, Utah, which operates the a cryptocurrency bridge, with failing to secure consumer assets following a 2022 exploit that drained nearly all funds from its platform. The agency alleges the company misrepresented its security protocols, leading to the theft of approximately $186 million.
According to the complaint, Illusory Systems advertised its service as a "secur . . .
According to the complaint, Illusory Systems advertised its service as a "secur . . .