Wormhole, a cryptocurrency platform has suffered a massive hack in which hackers have stolen $320 million worth of wETH (or wrapped Ether), the company confirmed on Wednesday, February 2nd, 2022. The attack took place at 6:24 pm UTC on Wednesday.
For your information, Wormhole functions as a communication bridge between decentralized-finance blockchain networks including Solana. (According to CoinMarketCap, the price of Solana’s SOL token is 8.52% down in the last 24 hours.)
In a series of tweets, the company explained that unknown hackers “exploited” a smart contract vulnerability and breached its defenses to carry out a hack that is now being labeled as the fourth-largest crypto heist to date.
It is worth noting that hackers have been exploiting smart contract vulnerability since last year. The previous victims of this flaw include the following:
Multichain (in which over $3 million were stolen)Badger Defi ( in which $120 million were stolen)MonoX (in which attackers manage to steal $30 millionBitMart ( in which hackers stole $150 million worth of ETH)
As for the Wormhole hack; the platform did not respond to Hackread.com’s request to comment however on its Telegram group and Twitter handle it claims that the vulnerability has been