Blockchain Bridge ‘Wormhole’ Suffers Possible $326 Million Exploit

Wormhole, the popular blockchain bridge for connecting Ethereum, Solana and others, has suffered a possible hack worth over US$326 million and is now attempting to negotiate on-chain with the hacker.

120,000 ETH Currently in Hacker’s Address

The team at Wormhole has reached out to the exploiter’s address on the Ethereum network and offered a US$10 million bounty for returning the money:

In a tweet, Wormhole confirmed that the bridge was down while the team investigated a potential exploit. The bridge’s official website simply reads: “Portal is temporarily unavailable”.

The hack was identified when on-chain analysts called attention to an 80,000 ETH transaction from Wormhole to an address currently also in possession of over US$250 million worth of ETH. According to the developer, the hacker also kept 40,000 ETH on Solana, where they have been selling for other assets.


In a tweet, prominent pseudonymous Paradigm security researcher “samczsun” confirmed that the Wormhole team had offered the hacker(s) a bounty for returning the stolen funds:

Exploit Sounds Alarm in the DeFi World

The exploit has caused alarm in DeFi circles because it means Ethereum that has been bridged to Solana may be unbacked. Cross-blockchain bridges often take assets, such as Ethereum, and lock them in a contract to issue a parallel asset on the bridge’s chain.

Massive Exploits Continue to Plague the Industry

Earlier this month, decentralised lending platform Qubit Finance suffered a hack of its smart contract governing deposits on the Ethereum-Binance Smart Chain bridge, losing 206,809 BSC in the biggest hack of the year so far. Last October, CREAM Finance was exploited for a third time during 2021 for a whopping US$130 million.

Jana Serfontein

Jana Serfontein

Jana has keen interest in what cryptocurrencies have to offer in regards to NGO’s, governments and the financial system. And is also intrigued with the psychological effect that cryptocurrencies have on society.

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