Wormhole Hacker Moves $46 Million In Stolen Money

Key Points:

• Another $46 million in stolen assets have just been transferred from the hacker’s wallet, wormhole hacker according to on-chain statistics, which shows that the stolen cryptocurrency from one of the biggest exploits in the industry is in motion once more.
• PeckShield, a blockchain security company, reports that the hacker’s connected wallet has been reactivated and has just transferred $46 million in cryptocurrencies.
• stETH prices unlinked from Ethereum and rose as high as $1,570. They are presently trading 2.4% higher than ETH at $1,541. In addition, wstETH depegged and now has a value of $1,676, or 11.3% greater than the underlying asset

Another $46 million in stolen assets have just been transferred from the hacker’s wallet, wormhole hacker according to on-chain statistics, which shows that the stolen cryptocurrency from one of the biggest exploits in the industry is in motion once more.

In February 2022, Wormhole’s token bridge was attacked, leading to the third-largest cryptocurrency breach of the year. In the incident, wrapped ETH (wETH) valued about $321 million, was taken.

PeckShield, a blockchain security company, reports that the hacker’s connected wallet has been reactivated and has just transferred $46 million in cryptocurrencies.

This was made up of 3,000 Rocket Pool Ethereum staking tokens (rETH) worth $5 million that were transferred to MakerDAO and about 24,400 Lido Finance-wrapped Ethereum staking tokens (wstETH) valued at about $41.4 million.

The analysis

The assets were exchanged for 16.6 million DAI, which indicates to PeckShield that the hacker may have been searching for income or arbitrage chances on their stolen riches.

Then, 1,000 stETH and 9,750 ETH were bought with MakerDAO stablecoin and converted into 9,700 wstETH.

An on-chain investigator caught the hacker “buying the dip” last week. However, over the past few hours, the price of Ethereum has decreased below them. The Ethereum token was down 2.6% on the day at $1,505 at the time of writing, according to CoinMarketCap.

At the moment of the transfers, stETH prices were unlinked from Ethereum and rose as high as $1,570. They are presently trading 2.4% higher than ETH at $1,541. In addition, with debugged and now has a value of $1,676, or 11.3% greater than the underlying asset.

Just a few weeks ago, the hacker delivered another $155 million in Ethereum to a decentralized exchange, marking the most recent transfer of this stolen monies.

The OpenOcean DEX was used to convert 95,630 ETH into ETH-pegged assets like Lido’s stETH and wstETH.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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