đłïž The Wormhole Hack: $320 Million Exploit on Solana Bridge
In February 2022, one of the largest cross-chain bridges, Wormhole, which connected Ethereum and Solana, was exploited for over 120,000 wrapped ETH (wETH) â worth approximately $320 million at the time.
đ„ The hacker found a vulnerability in the bridgeâs smart contract that allowed them to mint wETH on Solana without depositing any ETH on Ethereum.
đ The exploit exposed how cross-chain bridges â essential for interoperability â were also becoming some of the biggest security risks in crypto.
đž Jump Crypto, a key backer of Wormhole, stepped in and replenished all stolen funds to protect the ecosystem and user trust.
đ This incident triggered a wave of audits and security upgrades across the multichain world and served as a major warning for DeFi developers.
đ·ïž #WormholeHack