Jump Crypto, the Chicago-based crypto arm of Jump Trading that helped develop the DeFi project Wormhole, managed to counter Wormhole Protocol hackers and obtain $140 million worth of tokens.
according to a recent According to the blog post, a coordinated effort between Jump Crypto and Oasis, which develops multi-signature wallet software, led to the recovery of some assets linked to wallet addresses linked to the wormhole exploit.
While Oasis said that a whitehat group helped the project in this effort, blockchain data suggests that Jump Crypto may be the other party as the ownership of the wallets involved in the counter-exploit has reverted to the company.
Oasis revealed that on 21 February, it received an order from the High Court of England and Wales requiring it to take steps to retrieve certain stolen assets.
The DeFi platform, which the attacker relied on during phase one of the attack, said a whitehat group reached out to the team with a plan that showed it would be possible to retrieve assets and how it could be achieved, Provided a proof on this. ,
“What happened on 21 February 2023 was only possible because of a previously unknown vulnerability in the design of Admin Multisig Access.”
Oasis said it returned the funds to an authorized third party and that it maintains no control over the funds. “We can also confirm that the assets were immediately transferred to a wallet controlled by an authorized third party, as required by the court order,” it said.
Crypto is rife with exploits
As informed ofIn early 2022, a hacker stole 120,000 ETH tokens from a wormhole cross-chain bridge, worth over $321 million at the time, marking the fourth largest crypto theft ever. However, this was not the only major hack of the past year.
In fact, the crypto industry almost lost $4 billion The value of digital assets to hack, fraud, scam and rug-pull in 2022 alone, with five major exploits totaling $2,361,000,000,000 alone, according to a report by Immunefi, a bug bounty and security services platform for the Web3 ecosystem.
Hack of AXI Infinity’s Ronin Blockchain Which made hackers the biggest crypto hack of 2022 with roughly $625 million worth of Ethereum and USDC, followed by Wormhole at $326 million, Nomad at $190 million, BNB Chain at $570 million and FTX at $650 million – making up the bulk of the total loss. 60% share. In 2022.
Just last week, DeFi protocol Platypus Finance lost $8.5 million After a flash-loan attack. However, with the help of some on-chain spies, the project managed to track down the hacker and even recover some of the funds.
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