Ethereum-Solana bridge hacked for $320 million

Wormhole, a cryptocurrency bridge between the Ethereum and Solana blockchains was exploited for more than $323 million last week.

Wormhole is a smart contract software that faccilitates the movement of cryptocurrencies between different blockchain protocols. User who use these bridges lock their assets in the smart contract, and the bridge subsequently mints a different version of the assets on a different chain for the user to use in various applications.

The clever exploit resulted in the theft of more than 120k ethereum coins, which makes this incident one of the largest thefts in the history of etherem!

The developers of the Wormhole bridge offered the attacker a bounty of $10 million if they returned the funds, but it appears the offer has been rejected.

Luckily for users of the bridge, Jump Trading, a market making firm and one of the biggest investors in Whormhole, offered to cover the losses in full:

"JumpCryptoHQ believes in a multichain future and that WormholeCrypto is essential infrastructure. That’s why we replaced 120k ETH to make community members whole and support Wormhole now as it continues to develop."

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