Wormhole’s $320 million loss, which could have wreaked havoc on the Solana DeFi ecosystem, was backstopped by bridge owner Jump Trading, sources tell CoinDesk. Blockanalia reports
devastating exploits in crypto history
On Wednesday night, the Wormhole bridge suffered an exploit to its Solana-Ethereum bridge, with an attacker fraudulently minting 120,000 ETH worth over $320 million. The attacker moved the majority of the funds to the Ethereum main chain, while keeping 40,000 wrapped ETH on Solana and trading portions of that ether for other assets.
Step Finance founder George Harrap told CoinDesk on Wednesday that a number of Solana-based protocols that accept ETH as collateral could become insolvent due to the exploit.
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