The Oasis Network worked with a white hat hacking group to recover stolen funds from Wormhole. February 24th.

On February 2, Solana’s wormhole bridge was exploited, exfiltrating an estimated $326 million in cryptocurrency today. The attackers have since moved some of these funds.

Oasis, the DeFi platform and exchange that the attackers relied on for one step in their attack, quickly became involved in the recovery efforts.

Oasis announced today that it has received an order from the High Court of England and Wales on February 21 requiring action to be taken to recover certain stolen assets.

To that end, Oasis has chosen to work with a white hat hacking group that has previously suggested a way to recover stolen assets on February 16th. The two groups implemented their strategy on Tuesday, sending the recovered assets to a court-approved third party.

Oasis said this remediation strategy is only possible for “previously unknown vulnerabilities” in its own managed multisig access. The project said this access exists solely to protect user assets, adding that user funds have never been compromised, and that it has patched vulnerabilities reported in other ways. He argued that it is possible that

Oasis has not identified the white hat hacking group behind the recovery strategy, but block works It suggests that Jump Crypto was responsible. The report also suggests that $140 million worth of assets have been recovered, net of costs.

The fact that Oasis used dubious methods to recover stolen assets could spark controversy. You might argue that it’s about making it manageable.

Posted In: Solana, DeFi, Hux

By Jules

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