Blockchain Bridge Wormhole lost $320 million in the latest crypto hack

Hackers took away $320 million from the decentralized finance platform on Wednesday. Wormhole later confirmed that all the assets have been restored and are safe.

Wormhole acts as a bridge that lets its users transfer their crypto information from one blockchain to another. Wormhole is now constantly attempting to negotiate with the hackers. 

The hack is ranked as the fourth largest crypto heist of all time, and second-biggest on decentralized finance protocol and adds to more than $2 billion loss due to exploits and hacks according to elliptic

Largest cytpo theft of all time. Source: elliptic

Wormhole got Hacked: 

Wormhole announced on Twitter that they have lost more than $320 in a crypto hack. They later stated that the network is under maintenance and their website was showing “Portal is Temporarily Unavailable” 

“Hackers created 12000 wETH for themselves after exploiting a mint function on the Solana side of the bridge and then converted these tokens into Ethereum”, stated blockchain security firm CertiK.

Later, Hackers were offered $10 million bug bounty for hack details and return of the funds.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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