Home Cryptocurrency Wormhole hacker strikes $155M in greatest shift of stolen funds in months

Wormhole hacker strikes $155M in greatest shift of stolen funds in months

Cointelegraph By Brian Quarmby
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Wormhole hacker strikes $155M in greatest shift of stolen funds in months

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The hacker behind the $321 million Wormhole bridge assault has shifted a big chunk of stolen funds, with transaction knowledge exhibiting that $155 million price of Ether (ETH) was transferred to a decentralized trade (DEX) on Jan 23.

The Wormhole hack was the third largest crypto hack in 2022, after the protocol’s token bridge suffered an exploit on Feb. 2, 2022, that resulted within the lack of 120,000 Wrapped ETH (wETH) round price $321 million.

In line with the transaction historical past of the hacker’s alleged pockets tackle, the most recent exercise exhibits that 95,630 ETH was despatched to the OpenOcean DEX after which subsequently transformed into ETH-pegged property corresponding to Lido Finance’s staked ETH (stETH) and wrapped staked (wstETH).

Digging into the transaction historical past additional, crypto group members corresponding to @spreekaway additionally highlighted that the hacker went on to conduct a slew of strange wanting transactions.

For instance, the hacker used their stETH holdings as collateral to borrow 13 million price of the DAI stablecoin, earlier than swapping it out for extra stETH, wrapping into stETH once more after which borrowing some extra DAI.

Notably, the Wormhole group has taken the chance to as soon as once more supply the hacker a bounty of $10 million in the event that they return all of the funds, after it left an embedded message conveying such in a transaction by way of the Wormhole: Deployer.

Embedded message: Etherscan

The hacker’s hefty ETH transaction seems to have had a direct influence on the worth of stETH in line with knowledge from Dune Analytics. The asset’s worth went from just below peg of 0.9962 ETH on Jan. 23, to as excessive as 1.0002 ETH the next day, earlier than dropping again to 0.9981 on the time of writing.

Associated: North Korea’s Lazarus Group masterminded $100M Concord hack: FBI confirms

With the Wormhole hack more likely to catch extra consideration in gentle of the most recent incident, blockchain safety companies corresponding to Ancilia, Inc. warned on Jan. 19 that looking the key phrases “Wormhole Bridge” in Google is at the moment exhibiting promoted advert web sites which might be truly phishing operations.

The group has been warned to be diligent on what they’re clicking on referring to this time period.