Cybercriminal Wormhole used ETH to conduct transactions


Analysis shows that the hacker who caused the Wormhole Bridge attack, which led to the loss of $320 million, transferred most of the stolen funds. Transaction analysis showed that 95,630 ETH was sent to OpenOcean DEX and then exchanged for other assets such as Lido Finance Staked ETH (stETH) and Wrapped staked ETH (wstETH) on January 23, 2023. 

A member of the cryptocurrency community @spreekaway noticed that the cybercriminal then engaged in strange activities, such as borrowing $13 million worth of DAI stablecoins, exchanging them for more stETH, and then borrowing more DAI. 

The Wormhole team offered the hacker a $10 million reward if he returned all seized funds. This happened after a message left in a Deployer transaction was detected on the Wormhole platform.

According to Dune Analytics, it is believed that this large transaction affected the price of stETH, which fell to 0.9962 ETH. 

In 2022, the Wormhole hack was the third largest. On February 2 of that year, the protocol token bridge was hacked, which, at the rate at the time, resulted in a loss of about $321 million in 120,000 Wrapped ETH (wETH).

On January 23, 2023, the price of Ethereum (ETH) was quoted at $1635 with a market capitalization of $200 billion. Traders made transactions worth $8.3 billion.

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