Technology

What your organization can learn from the $324 million Wormhole blockchain hack

Those following the tech world have probably heard about the recent hack of blockchain bridging service Wormhole that has amounted to the fourth-largest crypto theft, and second-largest De-Fi theft, ever. The attacker who found the exploit created 120,000 Ethereum out of nothing and made off with about $324 million of it. For background, Wormhole is a service that lets users exchange cryptocurrencies across blockchains, sort of like swapping one fiat currency for another. In this particular case, the attacker exploited Wormhole in such a way that they were able to trick it into minting 120,000 wrapped Ethereum (wETH, a 1:1 value equivalent token that represents Ethereum) on the Solana blockchain, most of which the attacker then moved to the Ethereum blockchain.

Full story : What your organization can learn from the $324 million Wormhole blockchain hack.

OODA Analyst

OODA Analyst

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