The hacker hacked the Wormhole protocol and stole ETH worth $ 320 million
1 min read
On February 2, the hacker managed to hack the Wormhole protocol and steal a $ 320 million in ETH (at the current exchange rate).
Another hack, this time for $ 320 million
The attacker exploited the vulnerability of Solana blockchain bridge to mint 120,000 wETH coins that were not backed by Ethereum. The organizer of the attack then exchanged the assets for ETH, withdrew them from the protocol and spent part of the stolen funds on the purchase of the NFT.
The vulnerability that allowed hackers to create wETH using a smart contract in the Rust programming language became known as 1З. January. Rust fixed the bug, but the team did not update the software so the attacker could carry out the attack.
6/ It seems that this problem was fixed on January 16th but the team didn't have time to deploy the new version yethttps://t.co/WGyun4tOKs pic.twitter.com/wojfcd8JwY
— Alex Smirnov 🌉 (@AlexSmirnov__) February 3, 2022
Wormhole employees contacted the attacker and asked him to return the stolen assets in exchange for $ 10 million. The project staff deactivated the protocol for maintenance and promised to renew it in the near future.
Blockchain Solana was supposed to be Ethereum killer, but due to several hacker attacks, the reliability of the decentralized network is questioned. Such incidents also have a negative impact on the exchange rate of token Solana (SOL). After the information about the hacking of the bridge appeared, the price of SOL fell by 15%.
