Blockchain platform Wormhole has confirmed on Wednesday that hackers stole crypto-assets worth $324 million. The company Tweeted to report this breach and confirmed that 120k wETH were stolen from the platform. This incident is the fourth largest crypto theft of all time and the second-largest theft from a DeFi service. Wormhole took the platform down for maintenance and investigating the matter.
Wormhole acts as a bridge between different blockchains and lets users transfer cryptocurrency. A vulnerability in ‘the Solana VAA verification and mint tokens’ has been exploited to transfer ETH from Wormhole. Now the company is offering hackers $10 million for the exploit details and return of all the cryptocurrency.
“The exploit appears to have allowed the attacker to mint 120,000 wrapped ETH on the Solana blockchain, 93,750 ETH of which was then transferred to the Ethereum blockchain,” Elliptic explained.
Several researchers tweeted about the issue and detailed how the vulnerability has been exploited.
