The 2022 Wormhole Bridge Hack
In February 2022, Wormhole, a cross-chain bridge, was hacked, leading to the loss of approximately $320 million in wrapped Ethereum. The hacker exploited a vulnerability in the bridgeâs smart contract, allowing them to mint and withdraw unbacked tokens.
Wormholeâs parent company, Jump Crypto, swiftly acted to replenish the stolen funds and restore the bridgeâs operations. This event highlighted the security challenges associated with cross-chain interoperability and the critical need for secure bridge mechanisms.
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