On February 25, Jump Crypto, a Web3 infrastructure company, announced that it had successfully recovered the 120,000 ETH stolen during the infamous Wormhole exploit in 2022.
According to decentralized finance (DeFi) platform Oasis.app, the sender cheated the contracts and transferred collateral and debt from the explorer’s vaults to their vaults during the Wormhole exploit. The court asked Oasis to help recover the stolen property.
The incident sparked widespread concern within the cryptocurrency community, highlighting potential vulnerabilities in the decentralized network. Therefore, recovering the stolen funds is a significant relief and reinforces the belief that blockchain technology can be secure and resilient to cyber threats.
Jump Crypto has yet to reveal how the recovery was performed. Nevertheless, he assured his customers that appropriate measures had been put in place to prevent similar incidents from happening in the future. The company also underlined its commitment to the security and integrity of its users’ funds.
However, the Oasis.app team confirmed in a blog post on February 24 that a counter-exploit has occurred. The team revealed that they had received a court order from the High Court of England and Wales to recover specific assets associated with the address involved in the Wormhole exploit.
DeFi hacks continue
In February 2022, a wormhole attack occurred, which resulted in approximately $321 million of wrapped ETH (wETH) being stolen due to a vulnerability in the protocol’s token bridge. The hacker moved the stolen funds through various Ethereum-based decentralized apps (dApps) and recently opened Wrapped Staked ETH (wstETH) and Rocket Pool ETH (rETH) vaults on Oasis. application.
According to Transaction history on February 21, there was a transfer of 120,695 wsETH and 3,213 rETH from the two vaults, as evidenced by the transaction history. Oasis made this transfer and the assets were then placed in wallets which are now under the control of Jump Crypto.
Additionally, the hacker had accrued approximately $78 million in debt in MakerDao’s DAI stablecoin, which was successfully recovered.
