UPDATE: (10:30 am ET): Two sources with knowledge of the process tell The Block that Jump provided the funding to replenish Wormhole’s reserves.
This is a developing story and will be updated with more information.
Original report:
Wormhole, a cross-chain protocol that suffered a $325 million exploit on Wednesday, has replenished its reserves.
„ETH contract has been filled and all wETH are backed 1:1,” Wormhole tweeted Thursday. „The Portal (token bridge) is back up.” Wormhole said it is working on a detailed incident report and will share it soon.
Wormhole lost 120,000 ether (ETH) in crypto’s fourth-largest and DeFi’s largest heist of all time. Wormhole’s failure to validate „guardian” accounts allowed the attacker to mint around $325 million worth of ETH out of thin air, according to blockchain analytics firm Elliptic.
„Wormhole didn’t properly validate all input accounts, which allowed the attacker to spoof guardian signatures and mint 120,000 ETH on Solana, of which the
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