Wormhole Network's Cross-Chain Bridge Exploited for Over $250 Million in Ethereum – Bitcoin News

Reports indicate that the Wormhole Network’s ethereum ↔ solana bi-directional bridge has been exploited by an attacker for *93,750 ether or more than $250 million using today’s ethereum exchange rates. The developers behind the Wormhole Network have told the public the network is “down for maintenance,” as the team “looks into a potential exploit.”

*Editor’s Note: This post has been updated to reflect new information provided by the Wormhole team that says the bridge was exploited for 120,000 WETH.

What do you think about the Wormhole Network exploit and the loss of more than $250 million in ethereum? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

JPMorgan Lowers Its Bitcoin Fair Price Estimate to $38K Amidst Volatility

Leading investment bank JPMorgan has changed its view on the estimate of bitcoin's price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important ... read more.

Texto retirado de https://news.bitcoin.com/wormhole-networks-cross-chain-bridge-exploited-for-over-250-million-in-ethereum/