News and Updates on Information Technology

Hackers have stolen nearly $320 million in cryptocurrency from a decentralized finance platform Wormhole Portal.

Exploit: Hacking

Wormhole: De Fi Platform

cybersecurity news gauge indicating extreme risk

Risk to Business: 1.227= Extreme

Hackers swooped in and snatched up more than $320 million from De Fi platform wormhole this week. The DeFi platform, a bridge between cryptocurrency Solana (SOL) and other blockchains, was exploited for approximately 120,000 wrapped Ethereum in what is thought to be the second-largest cryptocurrency hack to date. Wormhole’s parent company Jump Crypto pledged to replace the 120,000 ether Wormhole lost. The company was quick to note that the crypto was stolen through exploiting a vulnerability in the platform, not taken from an Ethereum address and it was taken in 3 separate transactions.

Individual Impact: No specifics about consumer/employee PII or financial data loss were available at press time.

Customers Impacted: Unknown

How It Could Affect Your Customers’ Business De Fi has been a hotbed of having activity as cybercriminals seek quick scores of cryptocurrency, and there’s no end to the danger in sight.

Source: Indian Express