Wormhole Exploiters Revives With $15 M Transaction

• The exploiters swapped 95,630 ETH with staked ETH (stETH).
• The Wormhole deployer offered a $10 million bounty to the attacker.

The wormhole bridge exploiters are back in action. While tracking down the so-called wallet address of the hacker, a brief amount of Ethereum was transferred on 23rd Jan of 2022.

Two interesting transactions on the list, one is presumably between exploiter and exploiter 2, which sums around 1,889 ETH with approx $3 million. And the next one is a swap of 95,630 ETH with staked ETH (stETH) between the exploit and OpenOcean exchange. The swap’s value is $156,674,308. The stETH was further converted to wrapped staked ETH (wstETH/wETH).

Wormhole Exploit History

On 2nd Feb 2022, an attacker took advantage of the security loop in the DeFi platform, Wormhole. And the platform lost wETH worth around $326 million. The hack was the 3 biggest crypto theft in the year 2022. 

Post the hack, the wormhole deployer also offered a $10 million bounty to the attacker for returning the stolen wETH. And that offer is now reopening. Which is resulting to be a one-sided conversion before and now as well.

Coming to the current transactions, the wstETH are collaterals for gaining DAI stablecoins worth $13 million. And the usage of the stablecoin remains a mystery. Hacks and hackers are one factor that traumatic the virtual and digital asset users.

Though in recent times, the crypto market can witness many crypto-related hacks being in the spotlight by national and international government investing agencies. More strict regulations and implications can only resolve the scenario.

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