{"id":44319,"date":"2023-01-24T08:50:15","date_gmt":"2023-01-24T12:50:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44319"},"modified":"2023-01-24T08:50:18","modified_gmt":"2023-01-24T12:50:18","slug":"wormhole-bridge-exploiter-transfers-155m-in-eth","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/wormhole-bridge-exploiter-transfers-155m-in-eth\/","title":{"rendered":"Wormhole bridge exploiter transfers $155M in ETH"},"content":{"rendered":"\n
Earlier this week, an explosion of on-chain activity was observed at the address associated with the 320 million-dollar Wormhole exploit.<\/a><\/h5>\n\n\n\n
\"Wormhole
Wormhole bridge exploiter transfers $155M in ETH<\/figcaption><\/figure>\n\n\n\n

The hacker of Wormhole, one of the largest cross-chain bridges<\/a> between Solana and other blockchains has transferred stolen cash totalling $155 million in ETH to a decentralized exchange for the first time in months.<\/p>\n\n\n\n

CertiK's blockchain data indicated that 95,630 ETH was transmitted to the OpenOcean DEX before being converted into ETH-pegged assets such as Lido Finance's staked ETH (stETH) and wrapped staked ETH (wsETH) (wstETH).<\/p>\n\n\n\n

The exploiter then utilized the wrapped staked Ether (wstETH) as collateral for a $13 million loan in the stablecoin DAI in order to purchase almost 7,989.5 ETH through KyberNetwor. The deals were performed several times.<\/p>\n\n\n\n

Following the unexpected surge in on-chain activity, the team\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> offered the hacker a $10 million bounty in an embedded message in a transaction using the Wormhole: Deployer, which read,<\/p>\n\n\n\n

\n

\u201cWe 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 chain.\u201d<\/p>\n<\/blockquote>\n\n\n\n

With the increased activity, Ancilla, a cybersecurity firm, has warned that many of the ad listings displayed by Google for the search “Wormhole Bridge” are phishing websites.<\/p>\n\n\n\n

This exploit was one of the most significant cyberattacks of 2022<\/a>. The hacker took advantage of a flaw in the popular cross-chain protocol's validation system, allowing them to illegally generate wrapped ETH, which was then converted into ETH.
The hacker stole approximately 120,000 Wormhole Ethereum (WeETH) valued at over $320 million in a series of transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Earlier this week, an explosion of on-chain activity was observed at the address associated with the 320 million-dollar Wormhole exploit. The hacker of Wormhole, one of the largest cross-chain bridges between Solana and other blockchains has transferred stolen cash totalling $155 million in ETH to a decentralized exchange for the first time in months. CertiK’s […]<\/p>\n","protected":false},"author":38,"featured_media":44323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[13134,128,275,13133],"class_list":["post-44319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-cross-chain-bridges","tag-ethereum","tag-solana","tag-wormhole-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/nomad_hack_1659419294046_1659419294244_1659419294244.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=44319"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/44323"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=44319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=44319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=44319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}