The Wormhole portal lets people switch from one cryptocurrency to another with an Ethereum-based smart contract. The platform converts the input cryptocurrency into a temporary internal token, and then into other cryptocurrencies chosen by the users. Such portals are also called “blockchain bridges”.
A report from The Record states that an unknown hacker tricked the Wormhole network into issuing large amounts of Ether and Solana coins in exchange for a small input.
Information about the exact method of carrying out this hack attack has not been shared at the moment.
According to Wormhole’s latest Twitter update, the issue has been fixed on Thursday, February 3.
The vulnerability has been patched.
We are working to get the network back up as soon as possible.
— Wormhole???? (@wormholecrypto) February 3, 2022
Meanwhile, the company continues to try to persuade the hacker to return the stolen funds. In return, the company has offered 10 million dollars (about Rs 75 crore) to the hacker.
This is the second attack on Blockchain Bridge in the past two weeks.
Last week, Qubit Finance’s network was hacked by hackers, in which the company lost $80 million (about Rs 600 crore).
In its incident report, Qubit Finance stated that hackers had stolen 206,809 Binance coins using a problem in the company’s Ethereum blockchain contract.
This company has also requested an unknown hacker to return the funds via Twitter, and the company has agreed to reward him in return.<!–
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