Wormhole Crypto Platform: ‘Funds Are Safe’ After $314M Heist

The popular bridge, which connects Ethereum, Solana blockchain & more, was shelled out by it’s-not-saying. Wormhole is trying to negotiate with the attacker.

Wormhole – a web-based blockchain “bridge” that enables users to convert cryptocurrencies – said on Thursday that “all funds are safe” after attackers abused a vulnerability to shake it down for 120,000 Ethereum (approximately $314 million).

The popular bridge, which connects Ethereum (ETH), the Solana blockchain (SOL) and more, has reportedly been trying to negotiate on-chain with the attacker since Wednesday’s attack. The exploit was reportedly the fourth-largest crypto-heist ever, the biggest of 2022 so far, and the biggest one that Solana has faced yet.

In a postmortem shared with Threatpost on Thursday, blockchain security and smart-auditing company CertiK said that its preliminary analysis indicates that “the attacker exploited a mint function on the Solana side of the Wormhole bridge to create 120,000 wETH [wrapped Ethereum] for themselves, then used these minted tokens to claim ETH that was held on the Ethereum side of the bridge.”

As far as negotiation attempts go, CertiK said that the Wormhole team left a message to the attacker stating, “We noticed you were able to

Read More: https://threatpost.com/wormhole-crypto-funds-safe-heist/178189/