Jump Trading replaces stolen Wormhole funds after $320 mln crypto hack

economictimes.indiatimes.com:

cryptocurrency arm of Jump Trading said on Thursday it had restored more than $320 million to crypto platform Wormhole after the decentralized finance site was hit with one of the largest crypto heists on record. In a tweet, Jump Crypto said they chose to replace the stolen money «to make community members whole and support Wormhole now as it continues to develop.» Chicago-based Jump Trading acquired Certus One, the developer behind Wormhole, in August.

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Wormhole, an online platform that allows the transfer of information across crypto networks, said on Wednesday it had been «exploited» for 120,000 digital tokens connected to the second-largest cryptocurrency, ether. At the time of its announcement, the market value of the tokens was just over $320 million. The theft was the latest to hit the fast-growing but mostly unregulated DeFi sector. DeFi platforms allow users to lend, borrow and save — usually in crypto — while bypassing traditional gatekeepers of finance such as banks. «All funds have been restored and Wormhole is back up,» the platform said on Twitter after earlier saying on its Telegram channel that «all funds are safe». London-based blockchain analysis firm Elliptic said that attackers were able to fraudulently create the wETH tokens, almost 94,000 of which were later transferred to the ethereum blockchain, which powers transactions for ether. Elliptic added that Wormhole has offered the attacker a $10 million «bounty» to return the funds, citing messages embedded within