Hacker robs $320Mn from Wormhole
By MYBRANDBOOK
Wormhole, a protocol that allows users to move their tokens and NFTs between Solana and Ethereum, has confirmed that it suffered an exploit of 120,000 Wrapped Ethereum, worth over $320 million.
Developers representing Wormhole confirmed the exploit on its Twitter account, saying that the network is “down for maintenance” while it looks into a “potential exploit.” The protocol’s official website is currently offline.
The attacker’s profits are at least $251 million worth of ethereum, nearly $47 million in solana, and more than $4 million in USDC, a stablecoin pegged to the price of the U.S. dollar.
In addition to connecting Ethereum and Solana, Wormhole also works with Avalanche, Binance Smart Chain, Oasis, Polygon, and Terra. It allows users of one chain to take wrapped assets and use them on another chain, often so they can take advantage of lower fees or different applications across networks.
A bridge like Wormhole takes an ethereum token, locks it into a contract on one chain, and then on the chain at the other side of the bridge, it issues a parallel token.
The $320 million hack on Wormhole Bridge highlights the growing trend of attacks against blockchains protocols. This attack is sounding the alarms of growing concern around security on the blockchain.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
POLYCAB INDIA PVT. LTD
WIPRO LTD.
TP-LINK INDIA PVT. LTD.
DRUVA SOFTWARE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
Icons Of India : Deepak Sharma
Deepak Sharma spearheads Schneider Electric India. He brings with him ...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
