Wormhole $320 Million Funds Are Restored After Being Hacked
Wormhole, a popular cryptocurrency network that offers bridges between multiple blockchains, was just the victim of the biggest cryptocurrency theft this year, with an attacker exploiting a security vulnerability to steal roughly $325 million.
The hacker illegally mined 120,000 wETH, which was worth around $322 million. They carried out the attack by exploiting a Solana VAA vulnerability, a bridge function that verifies asset transfers.
The attack occurred on February 2nd and was discovered when the network’s official Twitter account declared that the network was being pulled “down for maintenance” while a potential vulnerability was explored. After that, this DeFi platform confirmed the attack and the money taken in a later post.
After the attack, this DeFi platform has offered the attacker a $10 million “bounty” for the funds’ return, citing messages embedded in ether transactions sent to the attacker’s Ethereum wallet address.
“All funds have been restored and Wormhole is back up,” its official account announced the recovery and shared the incident timeline via Twitter a few hours ago.
At the time of writing this article, Wormhole has not given any further information on how the funds were restored. They have promised to release the detailed incident report soon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Hazel
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Wormhole $320 Million Funds Are Restored After Being Hacked
Wormhole, a popular cryptocurrency network that offers bridges between multiple blockchains, was just the victim of the biggest cryptocurrency theft this year, with an attacker exploiting a security vulnerability to steal roughly $325 million.
The hacker illegally mined 120,000 wETH, which was worth around $322 million. They carried out the attack by exploiting a Solana VAA vulnerability, a bridge function that verifies asset transfers.
The attack occurred on February 2nd and was discovered when the network’s official Twitter account declared that the network was being pulled “down for maintenance” while a potential vulnerability was explored. After that, this DeFi platform confirmed the attack and the money taken in a later post.
After the attack, this DeFi platform has offered the attacker a $10 million “bounty” for the funds’ return, citing messages embedded in ether transactions sent to the attacker’s Ethereum wallet address.
“All funds have been restored and Wormhole is back up,” its official account announced the recovery and shared the incident timeline via Twitter a few hours ago.
At the time of writing this article, Wormhole has not given any further information on how the funds were restored. They have promised to release the detailed incident report soon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
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