The hacker has not returned the more than USD $300 million stolen in ETH. So where did the money with which the platform has replenished the funds come from?
Less than 24 hours after suffering a massive hacking that resulted in losses of more than $300 million the well-known cross-chain protocol, Wormhole has reported the full restitution of the funds.
The developers of the blockchain bridging platform Ethereum a decentralized open-source blockchain with smart contracts functionality. y Solana updated information about the incident this morning via his Twitter feed. The team of Wormhole said that the vulnerability that led to the attack has been fixed. In addition, the protocol is functioning normally and the stolen funds have been returned.
All funds have been restored and Wormhole is back. We are deeply grateful for your support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. and thank you for your patience.
All funds have been restored and Wormhole is back up.
We’re deeply grateful for your support and thank you for your patience.
— Wormhole???? (@wormholecrypto) February 3, 2022
The Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ did not provide details on how the funds have been reinstated, though it did indicate that “ is working on a detailed incident report and will share it as soon as possible. “. Meanwhile, the fortune stolen from the protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. has not moved. According to data fromEtherscanThe management of the mystery attacker is still holding about $250 million extracted from Wormhole.
It’s unclear how the platform a place to buy, sell and store cryptocurrency has reinstated the money, as the hacker has not returned the funds . The lack of information has led some community users to speculate about the reinstatement of the funds. Some reports suggest that Jump a Chicago-based trading company that has expressed interest in Solana has provided assistance to the protocol.
Two sources with knowledge of the process told the media outletThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. que Jump provided the funds to replenish the reserves of Wormhole .
What happened to Wormhole?
The protocol cross-chain cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value. was the victim of the biggest hacking hacking is the process of using a computer to manipulate another computer or computer system in an unauthorized fashion. attack of 2022, and one of the biggest historical heists in decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance (DeFi). According to reports, Wormhole lost 120,000 in wETH, a token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. wrapped in Ethereum (ETH) due to a failure in the validation of the accounts of the “ETH”. guardianes “. The vulnerability allowed the attacker to mint millions of dollars in wETH out of thin air.
“ Wormhole failed to properly validate all login accounts, which allowed the attacker to forge guardian signatures and mint 120,000 ETH on Solana, of which 93,750 connected to Ethereum “, explained Samczsun, a well-known white hat hacker, in a tweet Wednesday.
The platform initially reported the incident on February 2, after hackers exploited the vulnerability. At the time, it said the website would be down for maintenance. Later he shared a update which confirmed previously reported loss figures. This Thursday, developers publicaron about the chronology of the incident:
18:26 UTC – the contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. was exploited for 120k ETH
00:33 UTC – la vulnerabilidad fue parcheada
13:08 UTC – ETH contract has been filled and all wETH are backed 1:1
13:29 UTC – the Portal (token bridge) is back in operation
An address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. associated with Wormhole also sent a chain message offering al atacante una recompensa de USD$ 10 millones por los detalles del exploit y la devolución de la wETH acuñada en el ataque.
It should be noted that Wormhole is a bridging protocol that allows assets to be moved across multiple Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. . When a user sends assets from one chain to another, the bridge locks the assets and mints a wrapped version of the funds on the destination chain.
- Hacker stole $323 million USD from Wormhole protocol in wETH tokens through exploit
- Hacker extracts USD $80 million from Qubit Finance, DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. protocol based on BSC
- Poly Network a network refers to all nodes in the operation of a blockchain at any given moment in time. hacker returns 55% of funds and answers hacking details
Article by Hannah Estefania Perez / DiarioBitcoin
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