Satoshi Herald #16: Biggest DeFi Hack, Binance Crypto Card, and Solana Pay Launch


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On Wednesday, Defi platform Wormhole was the victim of the biggest crypto theft of the year – and one of the top five crypto hacks of all time. The hackers stole nearly $325 million.

The attack appears to have been the result of a recent update to the project’s GitHub repository, which revealed a fix for a bug that had not yet been deployed to the project itself.

The attack took place on Feb. 2 and was noticed when Wormhole’s Twitter account posted a message that the network was “down for maintenance.” A later report from Wormhole confirmed the breach and the amount stolen.

Shortly after the attack, the Wormhole team also offered the hacker a $10 million reward for a refund that was embedded as text in a transaction sent to the attacker’s Ethereum wallet address.

The transaction is expected to close in March 2022, subject to normal closing conditions.

Founded in 2014, Quoine was one of the first FSA registered crypto exchanges in Japan in 2017. In October 2021, Quoine (one of the projects of the Liquid group of companies) received a type 1 Financial Instruments Business registration from the FSA and continues to offer its clients a derivatives trading platform. Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its own offering, and FTX’s existing Japanese customers will be migrated to the Quoine platform.

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