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The hacker responsible for the Wormhole bridge attack still hasn’t stopped moving. After stealing $321 million, Wormhole hackers have now moved around $151 million to the decentralized exchange, DEX. Wormhole attacks can be thought of as third largest crypto-related exploit in 2022. The token bridge protocol suffered from a previous exploit on 2t February. The exploit finally paid off theft of nearly 120,000 properties worth $321 million. However, the address associated with the exploit witnessed a eruptions in on-chain activity over the span of several months.
appropriate a tweetit can be easily concluded that around 95,630 ETH was transferred to the OpenOcean DEX. This transfer was made before token is converted to some ETH pegged assets. Some of them include steTH and WETH. Next, the Wormhole bridge hacker then used an Ether-wrapped peg, wstETH, as collateral for a $13 million loan. Loans are taken in DAI stablecoin to buy around 7989.5 ETH. This trade is done many times.
Considering how the on-chain activity had suddenly spiked, the Wormhole team stepped up and made an offer to the hackers. The team said they would repeated his previous offer of $10 million. The amount will be offered to the hacker in exchange for all previously stolen funds.
Wormhole Failure Continues
Given how Wormhole hackers are driving shocking deals, steTH prices are affected as well. Previously, the asset price rose from almost 0.9962 ETH to 1.0002 ETH. However, steTH did not stay at that price point for long as it soon dropped back to 0.9981 ETH soon after.
Wormhole exploitation has once again become a hot topic in the crypto community as a result of recent events. As per recent developments, several cybersecurity firms have warned about Wormhole Bridge searches on Google. Whenever searched the results will show a large number of promoted advertising sites. In fact, this website is an active phishing operation. Keep in mind that the rate of cyber attacks has increased tremendously over the past few years. Worried that their funds might be stolen, many crypto investors are now turning to self custody.
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