Cybercriminals steal $326 million from the Wormhole

Cybercriminals steal $326 million from the Wormhole

Cybercriminals steal $326 million from the Wormhole cross-chain crypto platform.

What is wormhole crypto?

A wormhole is  a decentralized finance, or Defi, platform that allows users to swap Solana directly for other cryptocurrencies on decentralized apps, or dApps, across the Ethereum crypto network, a service known as a “blockchain bridge.” 

Hackers stole 120,000 Ethereum (ETH) worth $326 million from Defi Bridge. Defi Bridge connects decentralized finance to traditional finance. Wormhole Portal is a Defi between Solana Blockchain Platform and Other Blockchains. According to reports, this is the fourth largest crypto theft and the second largest from a Defi service.

A hacker exploited the Defi Bridge and mined around 120,000 ETH from Solana while 93,750 of them were sent to the Ethereum blockchain. This exploit was found to be caused by Wormhole’s “guardian” accounts not being validated.

Wormhole embedded a message inside an Ethereum transaction with a bounty of $10 million for the attacker.

  93,750 Ethereum coins are still leveraged by the hacker. Many people began sending on-chain messages to the hacker after the attempt from Wormhole, such as “hackerplsdonate. eth”. One individual sent a message saying “

A total of $2 billion has been lost through Defi services in hacks. However, PolyNetwork holds the record with an estimated loss of 611 million dollars.