Technology

Wormhole Bridge Exploit: Recovery of Stolen Funds Totaling $140 Million

An "counter-exploit"

Wormhole Bridge Exploit: Recovery of Stolen Funds Totaling $140 Million
Image preserved from the Inside Crypto archive

An "counter-exploit"

The Web3 infrastructure business Jump Crypto and the decentralized financial platform Oasis worked together to develop the counter-exploit. The latter was Wormhole's parent firm and had already made up for all the money that was misplaced. Moreover, the flaw was corrected.

Wormhole promised the attackers a $10 million bug reward and a white hat agreement in exchange for returning the money, however this deal was never carried through. This began an inquiry using both public and private resources. On February 21st, Oasis was given the go-ahead by the High Court of England and Wales to pursue all reasonable measures to recover the assets linked to the wallet address connected to the exploit.

A counter-exploit allegedly resulted in the successful recovery of assets valued at $140 million