Wormhole, the platform for the sale and purchase of cryptocurrencies suffered the theft of more than $320 million dollars in cryptocurrencies that were removed from your site. This would be the fourth largest cryptocurrency theft case on record. It should be noted that all of the funds have already been recovered.
Wormhole, a decentralized finance site that allows the transfer of information through crypto networks, announced yesterday Wednesday that they had removed 120,000 tokens or digital currencies connected to the second largest cryptocurrency, Ethereum.
At the time of the heist announcement, the market value of the stolen tokens was just over $320 millions of dollars.
This theft is one of the largest to occur in the DeFi sector, as reported by Reuters.
DeFi platforms allow users to lend, borrow and save, usually in crypto currencies, bypassing traditional financial institutions such as banks.
“All funds have been restored and Wormhole is backed up,” the platform said on Twitter.
Wormhole did not provide further information about how he recovered the funds. Like many DeFi sites, Wormhole does not provide details about its location, ownership or corporate structure.
Only one of the social media managers wrote: “The team is working on a detailed report of the incident and will share it as soon as possible.”
London-based blockchain analytics firm Elliptic said Wormhole offered the thieves a ‘reward’ of $10 millions in exchange for the return of the funds.
Sites for sale are becoming more and more popular and purchase of cryptocurrencies. Many investors are attracted to DeFi platforms because of the promise of high returns they can earn on their savings.
However, with this dizzying growth, DeFi platforms have become a major risk of theft, as they sometimes have errors in the code and design flaws that allow criminals to attack DeFi sites, leaving few traces.
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