On February 25, Jump Crypto, a web3 infrastructure company, announced that it had successfully recovered the 120,000 ETH stolen during the infamous Wormhole exploit in 2022.
According to decentralized finance (DeFi) platform Oasis.app, the sender misled contracts and transferred collateral and debt from the explorer’s vaults to their vaults during the Wormhole exploit. The court asked Oasis to help recover the stolen goods.
The incident caused widespread concern within the cryptocurrency community, highlighting potential vulnerabilities in the decentralized network. Therefore, the recovery of the stolen funds brings significant relief and reinforces the belief that blockchain technology can be secure and resilient against cyber threats.
Jump Crypto has yet to reveal how the recovery took place. Still, it has assured its clients that appropriate measures have been put in place to prevent similar incidents from happening in the future. The company has also emphasized its commitment to the security and integrity of its users’ funds.
However, the Oasis.app team confirmed in a blog post on February 24 that a counterattack had occurred. The team revealed that they received an injunction from the High Court of England and Wales to recover specific assets associated with the address involved in the Wormhole Exploit.
DeFi hacks continue
In February 2022, a Wormhole attack occurred, resulting in the theft of approximately $321 million worth of Wrapped ETH (wETH) due to a vulnerability in the protocol’s token bridge. The hacker has been moving the stolen funds through various Ethereum-based decentralized applications (dApps) and recently opened Wrapped Staked ETH (wstETH) and Rocket Pool ETH (rETH) vaults on Oasis. application
According to the transaction history On February 21, there was a transfer of 120,695 wsETH and 3,213 rETH from both vaults, as evidenced by the transaction history. Oasis made this transfer and the assets were subsequently placed in wallets now under the control of Jump Crypto.
In addition, the hacker had accumulated approximately $78 million in debt in MakerDao’s DAI stablecoin, which was successfully recovered.
