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Wormhole Blockchain Network Hacked and $320 Million in Crypto Stolen

United States, Texas, Houston
Published 2 years ago
ID #1280
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Wormhole Blockchain Network Hacked and $320 Million in Crypto Stolen
United States, Texas, Houston,
Published 2 years ago

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Wormhole is a platform that allows funds to be transferred between different blockchains.

The Wormhole blockchain network admitted on Wednesday that it had been "hacked" and that the intruders stole approximately $320 million in cryptocurrency. "The Wormhole network was mined for 120,000 wETH," they said.

A wETH is a 'token' created to exchange Ethereum 'tokens' for others compatible with the ERC-20 standard through decentralized platforms.

After the hack, the network was temporarily disabled for maintenance, while developers analyzed a vulnerability that could have been exploited by hackers.

Later, Wormhole announced that the vulnerability had been patched. "We are working to get the network back up and running as soon as possible," the tweet said.

Wormhole is a platform that allows funds to be transferred between different blockchains. Users lock an asset on one chain to receive its reflection on another.



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    edriane
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    United States, Texas, Houston
    Houston Texas Mikael 7008