Jump Crypto replaces $320M in Ethereum from Wormhole Exploit

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Ethereum on the Hollow Network in 2022 The solana bridge was developed for $320 million at 120,000 WETH (wrapped ethereum), and on the second day, the team explained that “all funding is for refurbishment, the hollow is to keep a copy.” Soon after, the team united The same “Detailed Incident Report” was printed.

Wormhole Network Returns, Jump Crypto Replenishes Stolen Ethereum

• An attacker managed to siphon 120,000 WETH from Ethereum on the Hollow Network Solana Bridge on weekdays. Once the wrapped Ethereum was stolen, its price was $320 million, and the Hollow team also suspended the network.
• When the funds were stolen, the Hollow deployers left an associate degree message on-chain to the attackers, asking if they would return the funds for the $10 million bug bounty.
• The attack follows the recent Qubit cross-chain bridge breach 5 days ago, which cost $80 million.
• The day after the exploit, the Hollow team revealed on Twitter that a copy of the network was kept and running, and that the crypto funds were reimbursed.
• “All funds refurbished, Hollow keeps a copy,” the team tweeted at 8:39 a.m. EST on weekdays. “We really appreciate your support and appreciate your patience. The team is working on a shutdown incident report and can share it soon.”
• The Wormhole team said the contract was used for 120,000 coins at 18:26 UTC and 00:33 UTC,”[the] Vulnerability has been patched. “Also, at 13:08 UTC,”[the] The ETH contract has been stuffy, every wETH is backed 1:1” and at “13:29 UTC, the portal (token bridge) keeps a copy. “
• Ethereum for Wormhole Networks The solana bridge allows every ETH and SOL user to cross-chain in an extremely bi-directional manner.
• Cross-chain bridge technology has been a huge theme in 2021 and 2022, with countless blockchains interacting with the Ethereum network or various smart contract blockchains.
• While the Hollow team failed to disclose publicly, the funds were returned in a Twitter message, but it appears the digital asset firm and Wormhole’s parent company, Jump Crypto, made up for Wormhole’s losses, in line with the company’s press release on Twitter.
• “[Jump Crypto] Believe in an extremely multi-chain future where [Wormhole] is important infrastructure. That’s why we tend to replace 120K ETH to form full community members and support the current void as it continues to grow,” said the Jump Crypto Twitter account.

post Jump Crypto replaces $320M in Ethereum from Wormhole Exploit first appeared in bitcoin wire.

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