Unhappiness can be a bridge to happiness – The announcement that just fell this Wednesday evening would rather mean the complete opposite. One of the bridges (bridge in literal translation) between the Solana blockchain and the Ethereum blockchain would have been hacked.
A booty of more than 326 million dollars
It’s not good to be a worm today. After the abandonment of MetaWorms following the anti-NFT outcry, wormhole (wormhole), one of bridge the most used to exchange between the two blockchains would have just undergone a resounding hack of more than 120,000 ETH.
In a tweet issued last night, the official account of the project announced that the bridge was currently in maintenance. The team would investigate a potential feat which would have made the portal unavailable.
The operation seems correct because Samczsunknown for his security skills and his analytical skills, found an exchange between Whormhole and the possible hacker. A message sent to the hacker’s address would see him offer $10 million if he agreed to return the funds as soon as possible.
>> Play it safe, register on the reference of FTX crypto exchanges (affiliate link) <<
Consequences much more serious than a simple “hole” in the cash
Indeed, this flaw has potentially serious consequences on both ecosystems. The funds that were withdrawn from the Ethereum side served as collateral, stuck in a smart contractto allow their “wrapped” equivalent to be used on the Solana blockchain.
Off, as the Ethereum listed collateral has faded away, ETH bridged on Solana is literally worthless. This would imply that the stolen ETH would dig the hole on the Ethereum blockchain side, but on top of that the Solana side ETH would become unusable, creating a total loss of more than $650 million!
Prophetic, Vitalik Buterinco-founder of Ethereum recently announced be very skeptical of cross-chain applications. Notably because of significant potential security issues. Looks like the blockchain genius was right… Le Journal du Coin will quickly review the course of events to give you more details on this already historic hack, and its consequences.