A popular cryptocurrency platform confirms that hackers stole $320 million worth of crypto assets

Wormhole, a communication bridge between Solana and other decentralized-finance blockchain networks, said hackers stole about $320 million in cryptocurrency, according to the Fortune.

The online thieves made away with 120,000 wETH, or so-called wrapped Ether, the project’s team said on Twitter.

They pledged to add Ether over the next several hours to ensure the wETH is backed one-for-one and get the network back up. The post didn’t elaborate on where they would get the Ether.

The vulnerability has been patched, Wormhole management said on the project’s Telegram channel on Thursday, reassuring users that funds are safe. It added an official statement would be issued in due course. 

It’s unclear what’s going to happen next with the assets. Wormhole initiated a transaction to the exploiter with a note. The Wormhole team is willing to offer $10 million in exchange for the assets. It’s going to be a weird decision.

Here’s what Wormhole wrote:

“This demonstrates once again that the security of DeFi services has not reached a level that is appropriate for the huge sums being stored within them,” said Tom Robinson, co-founder of blockchain analysis firm Elliptic. “The transparency of the blockchain is allowing attackers to identify and exploit major bugs.”