Another shocking robbery in the cryptocurrency circle! Hackers cost wormholes more than $300 million

On Wednesday afternoon ET, there was a shocking theft in the cryptocurrency world. Wormhole, the main bridge connecting the two major blockchains of Ethereum and Solana, has been hacked, and the loss is estimated to be at least $320 million.

This is the second-largest hacking loss disclosed by the DeFi world, and the current record is $600 million in the theft of the Poly Network cryptocurrency, which is also the largest loss in a hack against Solana.

The full name of DeFi is Decentralized Finance, which is "decentralized finance". Currently, DeFi projects are mainly carried out on the blockchain of Ethereum. However, Solana has grown rapidly in the recent period. With its lower fees and faster speed, it has become a competitor to Ethereum, and is increasingly attracting attention in the DeFi and NFT (non-fungible tokens) ecosystems.

Well, here comes the problem, a cryptocurrency holder usually does not operate within one blockchain, he needs to move his book wealth between different blockchains. In that way, bridges like Wormholes appear. The Wormhole project is essentially a protocol that allows users to move their tokens and NFTs between Solana and Ethereum.

Wormhole's Twitter account has confirmed the hack, saying the network will be down for maintenance while a potential vulnerability is being investigated. The latest news from its Twitter is that the vulnerability has been patched and efforts are being made to restore the network as soon as possible.

Solana