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๐ณ๏ธ The Wormhole Hack: $320 Million Exploit on Solana Bridge
In February 2022, one of the largest cross-chain bridges, Wormhole, which connected Ethereum and Solana, was exploited for over 120,000 wrapped ETH (wETH) โ worth approximately $320 million at the time.
๐ฅ The hacker found a vulnerability in the bridgeโs smart contract that allowed them to mint wETH on Solana without depositing any ETH on Ethereum.
๐ The exploit exposed how cross-chain bridges โ essential for interoperability โ were also becoming some of the biggest security risks in crypto.
๐ธ Jump Crypto, a key backer of Wormhole, stepped in and replenished all stolen funds to protect the ecosystem and user trust.
๐ This incident triggered a wave of audits and security upgrades across the multichain world and served as a major warning for DeFi developers.
๐ท๏ธ #WormholeHack
#Solana
#EthereumBridge
#CrossChainSecurity
#CryptoHistory
In February 2022, one of the largest cross-chain bridges, Wormhole, which connected Ethereum and Solana, was exploited for over 120,000 wrapped ETH (wETH) โ worth approximately $320 million at the time.
๐ฅ The hacker found a vulnerability in the bridgeโs smart contract that allowed them to mint wETH on Solana without depositing any ETH on Ethereum.
๐ The exploit exposed how cross-chain bridges โ essential for interoperability โ were also becoming some of the biggest security risks in crypto.
๐ธ Jump Crypto, a key backer of Wormhole, stepped in and replenished all stolen funds to protect the ecosystem and user trust.
๐ This incident triggered a wave of audits and security upgrades across the multichain world and served as a major warning for DeFi developers.
๐ท๏ธ #WormholeHack
#Solana
#EthereumBridge
#CrossChainSecurity
#CryptoHistory
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