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$321 Million Wormhole Hacker is Moving Funds, On-chain Data Shows

A hacker who stole 120,000 ETH tokens, worth above $321 million at the time, from the Wormhole cross-chain bridge has started moving funds, according to various on-chain analysts. On the 23rd of January, the hacker moved $155 million worth of Ether tokens to 1Inch, a decentralized exchange (DEX).

The anonymous exploiter has since started swapping their ETH tokens for other cryptocurrencies. According to @lookonchain, the hacker swapped 95,630 ETH (worth $155 million) for 86,473 wstETH – a wrapped version of Ethereum liquid staking protocol Lido’s stETH token.

The hacker then used this wstETH to borrow $14.5 million worth of DAI, a dollar-pegged stablecoin. They then bought a further 8,913 stETH with these tokens. This was then used to borrow a further $1.5 worth of DAI.

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