A bridge between Solana and Ethereum has been exploited for millions in the latest setback for the enterprise blockchain network.
“This demonstrates once again that the security of DeFi services has not reached a level that is appropriate for the huge sums being stored within them. The transparency of the blockchain is allowing attackers to identify and exploit major bugs.”on the Ethereum blockchain from the Wormhole developers has offered a bounty for returning the loot:
“We noticed that you were able to exploit the Solana VAA verification and mint tokens. We would like to offer you a whitehat agreement, and present you a bug bounty of $10 million for exploit details, and returning the wETH you have minted.” Wormhole was developed by blockchain engineering firm Certus One which was acquired by Jump Trading in August. On Feb. 1, Solana Labs announced theThe bridge hack is the latest in a lengthening list of woes for Solana which includes 4 network outages in as many months.
SOL prices have tanked over the past 8 hours falling 12% from around $111 to $97 at the time of writing. The token is now trading 62.5% down from its Nov. 6 all-time high of $260. Solana has often been touted as an “Ethereum killer” but this latest setback in addition to the multiple
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