Wormhole bridge exploited for over $320M
Second largest DeFi hack ever
One of the most popular cross-blockchain bridges, Wormhole, has fell victim to a hack worth over $320 million on Wednesday.
Wormhole is a protocol that allows users to bridge assets across blockchains. It currently has $1 billion in total value locked with six supported blockchains: Solana, Ethereum, Binance Smart Chain, Terra, Avalanche, and Polygon.
On Twitter last night, Wormhole revealed that it had been exploited for a total of 120,000 wETH and reassured users that “ETH will be added over the next hours to ensure wETH is backed 1:1,”.
An analyst named Samczsun has explained how the exploit was possible. "Wormhole didn't properly validate all input accounts, which allowed the attacker to spoof guardian signatures and mint 120,000 ETH on Solana, of which they bridged 93,750 back to Ethereum."
Wormhole’s team has reached out to the hacker’s address and is offering the hacker a $10 million bounty for returning the funds.
There’s no doubt this is the largest attack to date on Solana, and DeFi’s second-biggest exploit ever, right behind the $600M attack on Poly Network.
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