- Jump Crypto crypto arm of the finance firm Jump Trading Group, replaced the 120,000 ETH that was stolen from the Wormhole crypto bridge.
- Jump Crypto is confident in a multi-chain future and sees Wormhole as essential to the development of this goal.
- Jump Crypto are the people behind the development of Wormhole and Jump Trading Group is the payment clearing house for RobinHood’s retail investment giant.
Unfortunately hacks are still a part of the digital world. Neither the traditional world nor the world of cryptocurrencies are 100% resistant to this type of attack and On February 2, the crypto ecosystem experienced the biggest attack so far this year.
As we covered in Bitcoin Mexico, a hacker exploited a code bug in the platform’s Solana blockchain to Ethereum blockchain bridge. wormholestealing more than 120,000 wETH, around $320 million USD as of today, making it the 4th largest heist in the history of the ecosystem.
However, just one day after announcing that the platform was the victim of a hack, the platform announced that all funds had been restored. The reason, Jump Cryptothe crypto arm of silent finance giant Jump Trading Group, has decided to fully replenish the 120,000 ETH to Wormhole.
The alleged reason behind this multi-million dollar charitable act? According Jump Crypto, is that they are confident in a multi-chain future, and that Wormhole is essential to achieving that goal.
Beyond charity, corporate issues
This act was not entirely “charitable” since Jump Crypto are the people behind the development of Wormhole and Jump Trading Group is the payment liquidator of the retail investment giant Robin Hood.
It is worth mentioning that Jump Trading Group is a certified and regulated securities and broker in the United States, and that despite having 12 years working in the world of cryptocurrencies, until last week they were unknown to most of the inhabitants of the ecosystem.
Thus, the replenishment of the 120,000 wETH or $400 million was not just for charity, but instead to rescue Bridge itself from Jump Cryptobut does it detract from the relevance of the rescue?
Let us remember that Wormhole has different Bridges between important blockchains, which would have put the project in checkmate regarding the trust of the entire crypto community.
A millionaire reward
Even if the result of forensic analysis have already been published, where the vulnerability in the code that led to the theft of the millionaire sum has supposedly been solved, the crypto bridge team has not stopped there.
The Wormhole team has published a reward of $10 million dollars to anyone who gives information that leads the culprits to be brought to justice, or failing that, the recovery of the funds.
In addition, they have committed to improving safety in all Bridges, not only in Solana and Ethereum, but in the hundred bridges that the firm handles.
Would you trust Wormhole after this event?
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