Jump Crypto, the Chicago-based crypto arm of Jump Trading, which helped develop the DeFi Wormhole project, managed to counter a Wormhole protocol hacker and claim $140 million worth of tokens.
According to a recent blog post, a coordinated effort between Jump Crypto and Oasis, which develop multi-signature wallet software, has led to the recovery of certain assets associated with a wallet address linked to the Wormhole exploit.
Although Oasis has said that the Whitehat group helped the project, blockchain data suggests that Jump Crypto may be another party, as ownership of the wallets involved in the counterexploit has been traced back to the company.
Oasis said it received an order from the High Court of England and Wales on February 21 requiring it to take steps to recover certain stolen assets.
The DeFi platform relied on by the attacker during one stage of the attack said that the Whitehat group had contacted the team with a plan that showed it was possible to recover assets and provided a proof of concept on how this could be achieved. .
“What happened on February 21, 2023 was only possible because of a previously unknown vulnerability in the development of multi-signature administrator access.”
Oasis said it returned the funds to an authorized third party and does not retain control of the funds. “We can also confirm that the assets were immediately transferred to a wallet controlled by an authorized third party as required by the court order,” the statement said.
Cryptoware remains full of exploits
A hacker reportedly stole 120,000 ETH tokens worth over $321 million from the Wormhole cross-chain bridge in early 2022, making it the 4th largest cryptocurrency theft of all time. However, this was not the only major hack last year.
In fact, the crypto industry lost an estimated $4 billion worth of digital assets to hacks, scams, scams, and scams in 2022, with the top five exploits alone totaling $2,361,000,000 according to a report by Immunefi, a bounty platform bugs and security for the Web3 ecosystem.
Axie Infinity’s Ronin blockchain hack, in which hackers stole around $625 million worth of Ethereum and USDC, was the biggest crypto hack of 2022, followed by Wormhole’s $326 million, Nomad’s $190 million, Nomad’s $570 million BNB Chain and $650 million from FTX — which together represent 60% of all losses in 2022.
Just last week, DeFi protocol Platypus Finance lost $8.5 million after a quick loan attack. However, with the help of some network detectives, the project managed to track down the hacker and even recover some of the funds.
