Wormhole lost nearly $320 million in hack

Wormhole lost nearly $320 million in hack

The Wormhole cross-chain protocol lost nearly $320 million in a hack. This is one of the largest hacks in the history of decentralized finance (DeFi).

This is the second largest DeFi exploit ever, just behind the $600 million Poly Network hack, and is the largest attack on Solana to date.

The Wormhole developers confirmed the exploit, saying the network "unavailable for service" while they investigate the incident. The official website of the protocol is currently not working.

An analysis by cybersecurity company CertiK found that the attackers' profits amounted to at least $251 million in Ethereum, almost $47 million in Solana and more than $4 million in USDC.

The Wormhole team has already sent an offer to the hackers to return assets for a reward of $10 million.

Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies

You May Also Like

2272022-01-03

Aave has started developing a mobile wallet

DeFi project AAVE started the new year 2022 with the announcement of the creation of its own mobile wallet. 

DeFi
1862022-01-10

Wrapped XRP (wXRP) is now available on SushiSwap

XRP holders can now use their asset to participate in DeFi activities.

DeFi

Latest articles from DeFi category