The High Court of England and Wales has ordered the crypto platform to recover stolen funds.
Last year, the DeFi industry was hit hard by hacks. One of them was the Wormhole Hack in Oasis Network.
Oasis Will Use Its Own Wallet Software For Funds Stolen in Wormhole Hack
Oasis will use its own wallet software to recover the funds stolen in the Wormhole Hack. The court of England and Wales had decided to withdraw the funds.
Decentralized finance (DeFi) platform Oasis said Friday it seized assets linked to the theft of $140 million in last year’s Wormhole Bridge hack and returned them to an “authorized third party” after instructed to do so by a British court.
In a blog post by Oasis, which develops multi-signature wallet software that the hacker funds, white-hat hackers recently reported to them a “previously unknown vulnerability in the design of admin multi-signature access.”
It exploited this vulnerability to recover funds, following a February 21 ruling from the High Court of England and Wales.
Oasis used the following statements in its statement:
“We emphasize that this access is solely for the purpose of protecting user assets in the event of any potential attack and will enable us to act quickly to remediate any vulnerabilities disclosed to us.”
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