New attack in the world of crypto money: Loss of hundreds of millions of dollars

Not a day goes by that we don’t hear news of a new attack in the crypto money world. We are tired of hearing, but attackers are not tired of stealing. In the first months of the new year, attacks on crypto money platforms approached half a billion dollars.

Attack on the Wormhole platform

The subject of the attack is again a bridge platform. Attackers are constantly focusing on this front, as bridge platforms that allow the transfer of cryptocurrencies between multiple blockchains are not sufficiently protected. Also, the scale of the robbery is getting bigger.

As a result of an attack on the Wormhole bridge, 80000 ETH assets worth $250 million were stolen. After this huge money transfer, which Paradigm security researchers noticed, the Wormhole team took action and offered a reward of 10 million dollars to the attacker. On the other hand, it is stated that 40 thousand ETH added to the Solana network has become worthless. In other words, there is a loss of 375 million dollars.

Wormhole bridge services are suspended and the origin of the vulnerability is under investigation. It is reported that the second largest attack in DeFi history has taken place. On the other hand, the right of Vitalik Butterin, the founder of Ethereum, to criticize bridge platforms, especially because of the risk of not protecting assets in counter networks, has once again emerged.