(Bloomberg) Hackers have stolen about $320 million worth of cryptocurrency after hacking Wormhole, a communication bridge connecting decentralized-finance networks to Solana.
The hackers are said to have stolen 120,000 worth of Wrapped Ether, even as Wormhole offered $10 million to the online thieves to return the funds.
Wormhole said it would add Ether in the next several hours to ensure that the stolen wETH is backed one-for-one while ensuring that the network returns to normalcy.
The latest hack adds to a series of other security breaches on the Solana network, threatening its purported rival to Ethereum based on its low transaction fees.
Tom Robinson of blockchain firm Elliptic says the Wormhole attack demonstrates the security vulnerabilities of DeFi services, saying that hackers are identifying and exploiting major bugs in the blockchain. The attack is one of the largest for a DeFi protocol.
SOLUSD is down -3.04%.
