Wormhole cryptocurrency platform hacked for $325 million after GitHub error

that was sent from Wormhole to the hackers’ account, effectively liquidating a large amount of the platform’s Ethereum funds that were being held as collateral for transactions on the Solana blockchain.

Open-source code commits show that code that would have fixed this vulnerability was written as early as January 13th and on the day of the attack. Just hours later, the vulnerability was exploited by the hacker, suggesting that the updates had not yet been applied to the production application., the code upload was described as if it were a run-of-the-mill version update but actually contained extensive changes — a fact that could have tipped off the attacker to the fact that it was a disguised security fix.conducted by security research company Neodyme between July and September 2021.

Due to the nature of cross-chain applications, the attack temporarily left a huge deficit between the amount of wrapped Ethereum and regular Ethereum held in the Wormhole bridge — as if the collateral asset backing a loan had suddenly disappeared. According to Forbes, the attackThe Wormhole team has announced that more Ethereum will be added to the bridge to replace the stolen collateral funds, effectively meaning that the company will need to find $325 million in assets to plug the gap.

At this stage, it is unclear where the funds will come from. Questions sent to Jump Crypto, parent company of the developers of the Wormhole application, had not received a response at time of publication.Subscribe to get the best Verge-approved tech deals of the week.Please confirm your subscription to Verge Deals via the verification email we just sent you.

That why you get a sucurity Ledger

Crypto currency and NFT are the worst things

BAAAAHAHAHAHAHA another crypto scam, good lord what a shit system these morons are trying to push

Yikes.

Facebook's stock is down 22%, Wormhole out of pocket over a quarter billion? More good news please.

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