Wormhole Recovered All Funds After Hack

Ethereum-Solana bridge Wormhole announced recovering funds after a recent hack.

The platform announced that soon the team will present a detailed report on the incident.

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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

On February 3, the protocol was hacked for 120.000 wETH worth around $320 M. After the hack, the development team said that the vulnerability was patched.

Trading company Jump Trading’s investment arm Jump Crypto announced replacing the funds. The company mentioned in a tweet that it chose to replace the stolen money to contribute to the development of the protocol.

According to blockchain analytics platform Elliptic, attackers managed to expose the vulnerability, and create wETH tokens. Later, the hacker transferred almost 94.000 assets to Ethereum. The report says that Wormhole affered the hacker a $10 M “bounty” to return holdings. However, the 94.000 assets remained unmoved.