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Wormhole Blockchain Bridge Cracker Moves Stolen Assets.

Published: 2023-01-24

An unknown attacker, who almost a year ago took advantage of the vulnerability of the Wormhole blockchain bridge and stole $321 million worth of cryptocurrency, began moving assets worth $155 million. He used the stolen funds as collateral for a series of exchange transactions.

The hacker transferred 95.6 thousand stolen units of the Ethereum (ETH) cryptocurrency to the decentralized exchange OpenOcean, experts from cybersecurity company Certik found. These funds were exchanged for ETH-pegged digital assets: staked ETH (stETH) and wrapped staked ETH (wstETH) of the Lido Finance platform. He used stETH "coins" as collateral to obtain a loan in DAI stablecoins for $13 million - these funds were used to further purchase stETH, after which the operation was repeated.

The hacking of the Wormhole bridge, which provides communication between blockchains, became known on February 2 last year. A certain person took advantage of a platform vulnerability and generated 120,000 wETH tokens, which were subsequently exchanged for ETH on the main blockchain. Immediately after the hack, the Wormhole administration sent a transaction to the hacker's address and, in a comment to it, offered him to uncover the attack scheme and return the funds for $10 million. When the attacker's wallet came to life on January 23, the bridge administration repeated this message.