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Hack costs Wormhole nearly $320 million

 


The Token Bridge suffered millions of dollars in damage. Was protocol lucky in disguise?


The protocol can be used to transfer tokens between Solana, Ethereum and other blockchains (token bridge).

Wormhole announced on Twitter yesterday, February 2nd , that it was investigating a potential exploit. A few hours later, the token bridge confirmed that 120,000 WETH (wrapped ether) had been stolen.

“ETH will be added in the next few hours to ensure wETH is supported 1:1. More details will follow shortly,” the protocol explained via Twitter. In addition, the security gap has been fixed. "We are working to get the network back online as soon as possible," Wormhole said.

However , a message on the Ethereum blockchain suggested that the hacker turned out to be white hat, and Wormhole wants to offer a deal on the details surrounding the vulnerability.


Wrapped Ether (WETH) map the conventional Ether course almost 1:1. According to Coingecko , WETH is trading at around $2,654 at the time of writing. The total damage is around 318.5 million US dollars.

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