More Than $320 Million in Ethereum Was Stolen in Wormhole Token Bridge Hack

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The Wormhole token bridge that allows users to send and receive cryptocurrency between Ethereum, Solana, BSC, Polygon, Avalanche, Oasis, and Terra without a centralized exchange experienced a security exploit resulting in the loss of 120,000 wETH tokens worth $321 million from the platform.

The hack took place on February 2 on the Solana side of the bridge, and there are fears Wormhole’s bridge to Terra could be similarly vulnerable. The Wormhole team contacted the hacker through their Ethereum address to offer to let the hacker keep $10 million worth of funds stolen if the remaining funds are returned.

The Wormhole team has assured the community that its ETH supply would be replenished to “ensure wETH is backed 1:1,” but there is no word yet on where those funds will come from or when. As of the time of writing, wETH tokens sent across the bridge are not yet redeemable while the Wormhole team attempts to fix the exploit. (Brian Newar / Cointelegraph)

Related: Cointelegraph.com, The T…