The cross-chain interoperability protocol Nomad has announced a recovery update and is currently in the second phase of the recovery plan distributed in August, that is, the bridge upgrade phase. The design work has been completed and the smart contract audit has begun this week. Nomad expects the review to take approximately one month. This means Phase 3 (bridge restart) will begin in early October. Nomad said that the investigation of the data on the chain is still continuing. The Nomad team has hired multiple companies to monitor any funds flow on the chain, gather information about black hat hackers, and cooperate with law enforcement to track down identified individuals. Nearly $200 million was previously stolen from Nomad due to contract loopholes.