DeFi project known as Wormhole hit with a potential US$320mil hack


Hackers stole about RM1.33bil in cryptocurrency from a decentralised-finance service, again raising doubts about the industry's ability to safely transact large sums of money. — Bloomberg

Wormhole, a communication bridge between Solana and other decentralised-finance blockchain networks, said hackers stole about $320 mil (RM1.33bil) in cryptocurrency.

The online thieves made away with 120,000 wETH, or so-called wrapped Ether, the project’s team said on Twitter. They pledged to add Ether over the next several hours to ensure the wETH is backed one-for-one and get the network back up. The post didn’t elaborate on where they would get the Ether. The vulnerability has been patched, they said in a follow-up post.

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