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Crime and Investigations

Stolen Crypto from Wormhole Attack on the Move Again

Stolen Crypto from Wormhole Attack on the Move Again

The stolen crypto funds from the Wormhole attack, the third-largest crypto hack of 2022, have been on the move again.

According to blockchain security firm PeckShield, another $46 million of the stolen crypto assets have been shifted from the hacker’s associated wallet.

This amount consisted of 24,400 Lido Finance-wrapped Ethereum staking tokens (wstETH) worth approximately $41.4 million and 3,000 Rocket Pool Ethereum staking tokens (rETH) worth about $5 million, which were moved to MakerDAO.

READ MORE: Bitcoin (BTC): Is the Recent Price Surge a Sign of a New Bull Market Trend?

The hacker appears to be seeking yield or arbitrage opportunities as they exchanged the assets for 16.6 million DAI, which was then used to purchase ETH and stETH.

The prices of stETH and wstETH have deviated from Ethereum and increased, with wstETH reaching as high as $1,676, 11.3% higher than the underlying asset.

On Feb. 10, an on-chain observer noticed the hacker “buying the dip.” This latest movement comes just a few weeks after the hacker transferred $155 million worth of Ethereum to a decentralized exchange.

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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