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Crime and Investigations

Oasis Recovers Stolen Crypto Assets Worth $200 Million in Wormhole Hack

Oasis Recovers Stolen Crypto Assets Worth $200 Million in Wormhole Hack

Around $200 million worth of crypto assets were retrieved from the parties responsible for the Wormhole bridge hack.

The hack was one of the largest in the industry’s history. Decentralized finance (DeFi) platform Oasis, which creates wallet software utilized by the hacker, took steps to exploit its own wallet after receiving approval from the British High Court.

According to Oasis, the High Court of England and Wales directed them to recover certain assets involved with the wallet address associated with the Wormhole Exploit on February 2nd, 2022.

Oasis used the Oasis Multisig and a court-authorized third party to execute the court order.

The retrieved assets were then transferred to a wallet controlled by the authorized third party, and Oasis has no further control or access to these assets.

READ MORE: FTX Founder Sam Bankman-Fried Faces New Charges

The retrieved assets, according to Oasis data, totaled 3,213 RETH and 120,695 WSTETH, worth approximately $198 million at the time. The assets were transferred to wallets belonging to Jump Trading, the parent company of Wormhole.

Jump Trading, which had promised to replace the stolen assets worth around $320 million at the time of the hack, has yet to comment on the counter-exploit as of this writing.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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