Major crypto bridge hacked! The token bridge between Ethereum and Solana saw 120K wETH tokens removed from the platform and distributed between the hacker’s Solana and ETH wallets.
The Wormhole token bridge experienced a security exploit today, resulting in the loss of 120,000 wETH tokens from the platform.
Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, BSC, Polygon, Avalanche, Oasis, and Terra without the use of a centralized exchange . This is the largest crypto hack of 2022 so far and the second largest DeFi hack to date. The Wormhole team has offered a $10M bug bounty for the return of the funds.
The hack took place on the Solana side of the bridge and there are fears Wormhole’s bridge to Terra could be similarly vulnerable.supply would be replenished to “ensure wETH is backed 1:1,” but there is no word yet on where those funds will come from or when.ETH will be added over the next hours to ensure wETH is backed 1:1. More details to come shortly.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hacker Steals $320 Million From Solana, Ethereum Bridge Wormhole⬇ -10 Hacker Steals $250 Million From Solana, Ethereum Bridge Wormhole $ETH ethereum altcoin cryptocurrency
Read more »
Solana Woes Worsen in $320 Million (120K wETH) Wormhole Bridge HackA bridge between Solana and Ethereum has been exploited for millions in the latest setback for the enterprise blockchain network.
Read more »
Solana Labs releases payments protocol for digital commerce: Solana PaySolana Labs has launched a payments protocol called Solana Pay to let merchants accept crypto payments directly from consumers.
Read more »
Coachella Music Festival to Launch Solana NFTs in Deal With FTXNEW: The coachella music festival, set to return this April after a two-year hiatus, is rolling out a series of NFTs through a deal with FTX. lil_smush reports
Read more »
Solana Pay launches to expand crypto e-commerce marketSolana Pay perceive the “most prevalent use-case to be with digital dollar currencies” such as Circle’s USDC stablecoin, but also are enabling the option of Solana-related assets such as Solana’s native SOL, FTX’s FTT, and Serum’s SRM, among others.
Read more »
SOL/USD: Surge Higher May Awaken Traders\u0027 Zeal for Solana$SOLUSD has jumped higher in the past day with a robust amount of gains; the results may attract traders towards Solana which continues to produce strong volatility.
Read more »