Hackers steal $326m from blockchain bridge Wormhole

By Imogen Smith
February 3, 2022 0

In what is being described as the largest crypto hack of 2022 so far, the Wormhole token bridge has experienced a security exploit resulting in the estimated loss of 120,000 wETH (worth over $320m) tokens from the platform.

Wormhole is a DeFi platform that offers a communication bridge to allows users to send and receive crypto between blockchains such as Ethereum, Solana, BSC, Polygon, Avalanche, Oasis and Terra. The hack took place on the Solana side of the bridge, however there are fears the bridge for Terra may be vulnerable.

Via a Tweet, Wormhole revealed the extent of the exploitation and that “ETH will be added over the next hours to wETH is backed 1:1,” however there is no word on when those funds will come and where from.  

Wormhole has made attempts to contact the hacker with an offer of a $10m reward if the funds are returned: “This is the Wormhole Deployer: We noticed you were able to exploit the Solana VAA verification and mint tokens. We’d like to offer you a whitehat agreement, and present you a bug bounty of $10 million for exploit details, and returning the wETH you’ve minted. You can reach out to us at [email protected]

Wormhole has since revealed that they have “patched” the vulnerability and are in the process of getting the network back up for its users.


Imogen Smith

Imogen is a journalist for CryptoVista reporting on the complexities of the digital currency space and its latest news from around the world.

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