On Wednesday, February 2, Warmhole, the DeFi bridge protocol, announced that the platform had been attacked. As a result, the hackers stole 120 wETH worth $320 million. Now, the company’s officials have stated that they have recovered all of the stolen funds, which is a huge relief for the platform’s users.
Warmhole has yet to issue a detailed report on how they recovered the stolen funds. According to the Bloomberg report, Jump Trading Group, which was involved in the development of Warmhole, managed the system to get the money back to the users’ wallets.
This is a perfect example of “how issues in crypto can be corrected quickly.” According to Elliptic, a London-based blockchain analysis firm, Warmhole has offered $10 million to the hackers if they share the details of loopholes in the network.
What is a warmhole?
Warmhole is a DeFi blockchain bridge between Ethereum and Solana that allows users to exchange SOL for other cryptocurrencies.
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