Wormhole Hacker Shifts $155Mn In Largest Stolen Funds Movement In Months


Transaction data reveals that Ether (ETH) amounting to $155Mn was moved to a DEX (decentralized exchange) on January 23 by the hacker responsible for the Wormhole bridge attack amounting to $321Mn.

The Wormhole attack was the third-largest cryptocurrency hack of 2022, following an exploit of the token bridge of the protocol on February 2 that led to the theft of Wrapped ETH (wETH) amounting to 120,000, equivalent to about $321 million.

Huge Movement From The Hacker With Notorious Wormhole Fame

The most recent activity of the wallet address of the alleged hacker reveals that 95,630 ETH was moved to the OpenOcean DEX and afterward transformed into assets pegged by ETH like wrapped staked ETH (wstETH) and Lido Finance’s staked ETH (stETH).

Looking deeper into the transaction history, members of the crypto community like Spreekaway also pointed out that the hacker went on to carry out a number of strange-looking transactions.

For instance, the hacker borrowed DAI stablecoins worth 13Mn using their holding in stETH as collateral, then exchanged it for more stETH, wrapped it in stETH once again, and borrowed more DAI. Notably, the Wormhole team has utilized the opportunity to offer a bounty of $10Mn for the hacker once more if they return all the monies, leaving a transaction with an attached message stating as such.

In light of the most recent incident, blockchain security companies like Ancilia Inc. advised on January 19 that Google searches for “Wormhole Bridge” are currently returning promoted websites involving advertisements that are essentially phishing operations. The public has been forewarned to exercise caution while clicking on anything related to this phrase.