Wormhole Network Faces Exploit, Loses $216 Million to Hackers By CoinQuora
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Wormhole Network Faces Exploit, Loses $216 Million to Hackers- Wormhole network has lost $216 million to hackers.
- The lost fund is estimated to be around 80,000 worth of ETH CertiK Security Leaderboard announced the exploit.
Wormhole network has been hacked for 80,000 ETH. The estimated amount of the ETH in USD is said to be equal to $216 million. Blockchain security analytic firm, CertiK Security Leaderboard announced the Wormhole’s network security flaw incident.
#CommunityAlert @wormholecrypto‘s Wormhole Bridge has experienced an exploit and the attacker withdrew 80,000 #ETH worth $216M
See the transaction here https://t.co/hJAvpswnMy
Use caution if interacting!
Incident Analysis coming soon pic.twitter.com/lnMmsHx8I5
— CertiK Security Leaderboard (@CertiKCommunity) February 2, 2022
However, to clear any fear, Uncertainty, and Doubt (FUD) among traders, the Wormhole team has officially confirmed the exploit a few minutes after the CertiK Security Leaderboard announcement. The company apologized for the incident and any inconveniences that the exploit may have caused.
The wormhole network was exploited for 120k wETH.
ETH will be added over the next hours to ensure wETH is backed 1:1. More details to come shortly.
We are working to get the network back up quickly. Thanks for your patience.
— Wormhole (@wormholecrypto) February 2, 2022
As it’s impossible to determine how the hackers breach the network, the Wormhole network team expressed that they’re doing all that they possibly can to back up the network anytime soon. Apart from the network maintenance, the company mentioned that it will soon add (ETH) to make sure that wETH is backed 1:1 on the network.
Meanwhile, the Wormhole network team hasn’t yet addressed the users whether their stolen funds will be refundable or not, at the time of writing. On the other hand, (ADA) CEO Charles Hoskinson teased his stance on the exploit and said that “I’ve heard of ghost chain, but now there is ghost wrapped ether.”
Continue reading on CoinQuora
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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Wormhole Network Faces Exploit, Loses $216 Million to Hackers- Wormhole network has lost $216 million to hackers.
- The lost fund is estimated to be around 80,000 worth of ETH CertiK Security Leaderboard announced the exploit.
Wormhole network has been hacked for 80,000 ETH. The estimated amount of the ETH in USD is said to be equal to $216 million. Blockchain security analytic firm, CertiK Security Leaderboard announced the Wormhole’s network security flaw incident.
#CommunityAlert @wormholecrypto‘s Wormhole Bridge has experienced an exploit and the attacker withdrew 80,000 #ETH worth $216M
See the transaction here https://t.co/hJAvpswnMy
Use caution if interacting!
Incident Analysis coming soon pic.twitter.com/lnMmsHx8I5
— CertiK Security Leaderboard (@CertiKCommunity) February 2, 2022
However, to clear any fear, Uncertainty, and Doubt (FUD) among traders, the Wormhole team has officially confirmed the exploit a few minutes after the CertiK Security Leaderboard announcement. The company apologized for the incident and any inconveniences that the exploit may have caused.
The wormhole network was exploited for 120k wETH.
ETH will be added over the next hours to ensure wETH is backed 1:1. More details to come shortly.
We are working to get the network back up quickly. Thanks for your patience.
— Wormhole (@wormholecrypto) February 2, 2022
As it’s impossible to determine how the hackers breach the network, the Wormhole network team expressed that they’re doing all that they possibly can to back up the network anytime soon. Apart from the network maintenance, the company mentioned that it will soon add (ETH) to make sure that wETH is backed 1:1 on the network.
Meanwhile, the Wormhole network team hasn’t yet addressed the users whether their stolen funds will be refundable or not, at the time of writing. On the other hand, (ADA) CEO Charles Hoskinson teased his stance on the exploit and said that “I’ve heard of ghost chain, but now there is ghost wrapped ether.”
Continue reading on CoinQuora
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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