On-Chain Data Shows A $321 Million Wormhole Hacker Moving Funds

Several on-chain researchers claim that a hacker who stole 120,000 ETH tokens from the Wormhole cross-chain bridge, valued at over $321 million, has begun transferring money. The hacker transferred $155 million worth of Ether tokens to 1Inch, a decentralized exchange, on January 23. (DEX).

Since then, the unidentified exploiter has been exchanging their ETH tokens for other cryptocurrencies. According to @lookonchain, the hacker traded 86,473 wstETH, a wrapped version of the stETH token from the Ethereum liquid staking protocol Lido, for 95,630 ETH (worth $155 million).

The hacker later borrowed DAI, a stablecoin tied to the dollar, for $14.5 million using this wstETH. With these tokens, they later purchased an additional 8,913 stETH. This was then utilized to obtain an additional DAI loan for $1.5.

Once more, the Wormhole Bridge team left their exploiter a message promising a $10 million reward for the complete return of the stolen cash, along with an email address for anonymous communication.