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$155 million in ETH is moved by Solana's Wormhole Bridge Exploiter.

WikiBit 2023-01-25 14:49

Abstract:The attacker of Wormhole, one of the largest cross-chain bridges between Solana and other blockchains, moved stolen funds totaling $155 million in ETH to a decentralized exchange for the first time in months.

  On-chain activity erupted at the location linked to the $320 million attack this week.

  For the first time in months, the hacker of Wormhole, one of the biggest cross-chain bridges connecting Solana and other blockchains, transported stolen money totaling $155 million worth of ETH to a decentralized exchange.

  The OpenOcean DEX received 95,630 ETH without first being turned into ETH-pegged assets like Lido Finance's staked ETH (stETH) and wrapped staked ETH, according to blockchain data from analytic platform CertiK. (wstETH).

  

  The exploiter then borrowed $13 million in the stablecoin DAI and pledged the wrapped staked Ether (wstETH) as security in an effort to use KyberNetwor to purchase almost 7,989.5 ETH. There were several iterations of the transactions.

  The Wormhole team re-offered the hacker a $10 million bounty after the rapid spike in on-chain activity in an embedded message in a single transaction using the Wormhole: Deployer, which stated, “We would like to reiterate our previous offer of a $10 million bounty for the total return of all the stolen funds. You can reach out to us at bounty@wormholenetwork.com or reply on the chain.”

  Due to the increased activities, the cybersecurity company Ancilla has warned that a large number of Google Ad entries for the term “Wormhole Bridge” are actually phishing websites. Undoubtedly one of the major breaches in 2022 was the Wormhole exploit. The hacker was able to create wrapped ETH fraudulently by taking advantage of a flaw in the methodologies and processes of the well-known cross-chain protocol, which they then utilized to convert into ETH.

  The attacker got off with almost 120,000 Wormhole Ethereum (WeETH) worth over $320 million across a number of transactions.

  

  As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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