The token bridge between Ethereum and Solana saw 120K wETH tokens removed from the platform and distributed between the hacker’s Solana and ETH wallets.
The Wormhole token bridge experienced a security exploit today, resulting in the loss of 120,000 wETH tokens ($321 million) from the platform.Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, BSC, Polygon, Avalanche, Oasis, and Terra without the use of a centralized exchange (CEX). This is the largest crypto hack of 2022 so far and the second largest DeFi hack to date. The Wormhole team has offered a $10M bug bounty for the return of the funds. The hack took place on the Solana side of the bridge and there are fears Wormhole’s bridge to Terra could be similarly vulnerable.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
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