• About Us
  • Jobs
  • Contact
  • Login
  • Register
Crypto Mufasa
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
Crypto Mufasa
No Result
View All Result
ADVERTISEMENT
Home Altcoin News

Wormhole Bridge Exploit – How Oasis and Jump Crypto Recovered $140M

James by James
February 25, 2023
in Altcoin News
Reading Time: 2 mins read
A A
0
Wormhole Bridge Exploit
Tweet

In Brief:

  • Counter Exploit Launched
    • Related articles
    • Whale transferred $8.2 Million Worth SHIB Tokens: Shiba Inu’s Largest Whale Transfer After Shibarium Unleashes Potential
    • Euler Finance’s Bold Offer to Hacker: Keep $20M or Risk Prosecution
  • Court Order
  • Community Reaction

Wormhole Bridge Exploit: In what is being hailed as a landmark moment for the decentralized finance ecosystem, Oasis and Jump Crypto successfully retrieved $140 million worth of assets following a court-ordered counter-exploit. The exploit was launched against the Solana-based Wormhole Bridge in what was one of the largest heists in crypto history.

Counter Exploit Launched

The counter exploit was conducted jointly by Oasis, a decentralized finance platform, and Jump Crypto, a Web3 infrastructure company and Wormhole’s parent company. The vulnerability was patched, and all the lost funds had been replaced by Jump Crypto. The counter exploit was only possible with the approval of the Oasis Multisig.

Related articles

shiba inu whale alert-shibarium

Whale transferred $8.2 Million Worth SHIB Tokens: Shiba Inu’s Largest Whale Transfer After Shibarium Unleashes Potential

March 16, 2023
Euler Finance

Euler Finance’s Bold Offer to Hacker: Keep $20M or Risk Prosecution

March 15, 2023

Court Order

Fast forward to 21st February, Oasis received an order from the High Court of England and Wales to take all necessary steps to retrieve assets involved with the wallet address associated with the exploit. The move allowed the team to quickly fix any vulnerability and protect user assets in the event of any potential attack.

Community Reaction

Despite the retrieval, the community remained divided. One user pointed out that the entire event sets a bad precedent in the decentralized finance ecosystem. However, Oasis stressed that the sole intention for granting access was to protect user assets and fix any vulnerability. At no point have user assets been at risk of being accessed by any unauthorized party.

Out of town for the weekend & trying to minimize socials, but have to say w/r/t this Oasis/Wormhole counter exploit that I really didn’t think we’d see court mandated smart contract manipulation for at least a few more years. Bad precedent and a condemnation of upgradable proxies

— Collins Belton (@collins_belton) February 24, 2023

The successful counter-exploit and retrieval of stolen assets show that there is hope in the fight against malicious entities in the crypto space. The move by Oasis and Jump Crypto to work together to protect user assets and fix vulnerabilities is a positive step towards making the decentralized finance ecosystem safer for all.

Tweet48Share76ShareSendPin17ShareSend
ADVERTISEMENT
James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, Sam has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

Related Posts

shiba inu whale alert-shibarium
Altcoin News

Whale transferred $8.2 Million Worth SHIB Tokens: Shiba Inu’s Largest Whale Transfer After Shibarium Unleashes Potential

March 16, 2023
Euler Finance
Altcoin News

Euler Finance’s Bold Offer to Hacker: Keep $20M or Risk Prosecution

March 15, 2023
Floki Inu (FLOKI)_ A Comprehensive Guide to the Popular Memecoin
Beginner Guides

Floki Inu (FLOKI): A Comprehensive Guide to the Popular Memecoin

March 6, 2023
Exploring Shibarium: The Future of Web3 Ecosystem Built for Shiba Inu (SHIB) Community
Beginner Guides

Exploring Shibarium: The Future of Web3 Ecosystem Built for Shiba Inu (SHIB) Community

March 3, 2023
Floki Inu (FLOKI): A Comprehensive Guide to the Popular Memecoin
Altcoin News

Top 5 Profitable Meme Coins Despite Market Fall

March 2, 2023
mastercard and visa halting crypto integrations
General News

Mastercard and Visa Put Crypto Plans on Hold as Market Downturn Continues

February 28, 2023
Chain Reaction
Altcoin News

Israeli Startup Chain Reaction Secures $70M for Blockchain Chips

February 25, 2023
Cardano (ADA) Staking Now enabled by Trust Wallet
Altcoin News

Cardano’s Network: Advantages And Disadvantages Of Implementing KYC 

February 16, 2023
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops
Altcoin News

Scam Alert: Duplicate SHIBARIUM Token Have been Released by Scammers on Multiple Platforms

February 15, 2023
Load More
  • Trending
  • Comments
  • Latest
OKX: An all-in-one trading platform that supports cryptos, derivatives, staking, and lending

OKX: An All-in-one Trading Platform That Supports Cryptos, Derivatives, Staking, And Lending

December 27, 2022
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Scam Alert: This Email Can Drain Your Crypto and NFT Wallet

January 21, 2023
Crypto Airdrops: Are They Really Safe? "The Ultimate Guide"

 A Step-By-Step Guide To Understand Arbitrum’s (ARB) Token Airdrop

March 17, 2023
HappyMiner

Earn Passive Income Cloud Mining With HappyMiner

March 19, 2023
Bitcoin ATM Rise Or Fall: In Less Than 60 Days, More Than 400 Machines Went Offline

Bitcoin ATM: How to use them?

1
All You Need To Know about Defi (Decentralized Finance)

All You Need To Know About DeFi (Decentralized Finance)

1
Robinhood enables the Web3 Wallet beta accessible to 10,000 users

Robinhood enables the Web3 Wallet beta accessible to 10,000 users

1
Mastercard Introduces a New Tool to Prevent Crypto Fraud

Mastercard Introduces a New Tool to Prevent Crypto Fraud

1
Crypto.com Will Be Laying Off 20% Of Its Workforce In 2023

Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 

March 20, 2023
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

March 20, 2023
Bitcoin ATMs Manufacturer Has Shut Down Its Cloud Service Following The Hacking Of Its Users 

Bitcoin ATMs Manufacturer Has Shut Down Its Cloud Service Following The Hacking Of Its Users 

March 20, 2023
Bitcoin’s Best January In 10 Years, With A 39.6% Gain For The Month

Bitcoin Hits $28k As Unpredictability Surrounds Banks

March 20, 2023
Crypto Mufasa

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Navigate Site

  • Contact
  • Terms Of Service
  • Privacy Policy
  • Crypto Prices
  • Crypto Exchanges
  • Work With Us

Follow Us

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In