Is wormhole token bridge safe?
Wormhole – a web-based blockchain “bridge” that enables users to convert cryptocurrencies – said on Thursday that “all funds are safe” after attackers abused a vulnerability to shake it down for 120,000 Ethereum (approximately $314 million).
Wormhole uses state-of-the-art security and end-to-end encryption to protect your files. Your files are always end-to-end encrypted, so they can never be shared or viewed by anyone but you and the intended recipients. Wormhole encrypts all files with 128-bit AES-GCM encryption before they leave the browser.
Wormhole operates with the help of a network of nodes called guardians which signs and verifies transactions on the origin chain and with relayers to relay the message to the target chain. More details here: Wormhole has core bridge contracts deployed on all chains (published list available here).
From this perspective, Ethereum is the clear winner over Solana. Ethereum has been around since July 2015, while Solana was launched in March 2020. Ethereum also has many more active members and hosts more decentralized applications (dApps) than Solana as well.
Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, Binance Smart Chain (BSC), Polygon, Avalanche, Oasis and Terra without the use of a centralized exchange. This is the largest crypto hack of 2022 so far and the second-largest decentralized finance hack to date.
- Head over to https://www.wormholebridge.com/ ...
- Select $UST from the Ethereum dropdown. ...
- Connect your Ethereum and Solana Wallets. ...
- Indicate how much you want to transfer. ...
- Approve spending of the stated amount of UST. ...
- Confirm the transfer.
Einstein's theory of general relativity mathematically predicts the existence of wormholes, but none have been discovered to date. A negative mass wormhole might be spotted by the way its gravity affects light that passes by.
- Download Coinbase Wallet. ...
- Choose a Coinbase Wallet username. ...
- Securely store your recovery phrase. ...
- Understand and plan for Ethereum network fees. ...
- Buy and transfer ETH to Coinbase Wallet. ...
- Use your ETH to buy TerraUSD (Wormhole) in the trade tab.
Simply plug the wormhole cable into device A and device B and you're ready to go! Drag and drop or copy/paste files easily and quickly across Windows® to Windows® or Mac® to Mac® and even direct transfers between Mac® and Windows®.
Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far. Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic.
When was Solana hacked?
“The attack – which began on August 2 – has so far seen over $5.8m in funds drained from 7,947 wallets. The stolen assets include SOL, a small number of non-fungible tokens (NFTs) and over 300 Solana-based tokens.”
These confirmations do not begin until the transaction has been completed and confirmed on the blockchain in which the speed of will be dependent on the gas used in the transaction. Once the transaction is complete it will take on average ten minutes to be ready for redemption.
Cardano is pioneering decentralization with a slower development process but with a remarkable Proof-of-Stake validation mechanism. Solana is a better technological product and is one of the fastest and cheapest blockchains but with a quasi-decentralized network.
As per our Solana prediction for 2022, the price is expected to reach around $50 by the year-end with a significant market cap, which is quite optimistic. Based on our SOL price forecast, the average price is expected to be around $44, and the potential low may be $38.
All of this to say the Solana blockchain is highly efficient and very stable, and it offers low transaction fees for investors. These factors combine to give the coin potential as a good long-term investment as far as cryptocurrency goes. SOL is currently trading closer to its lows, potentially making it a good deal.
Wormhole's post mortem incident report indicated that a signature verification vulnerability was exploited. The perpetrator targeted wETH tokens on Solana that were not tied to Ethereum deposits, bridging them to Ether in order to steal them.
Excerpt from Certus One: Wormhole is the first of many such cross-chain bridges to come. It uses decentralized cross-chain oracles — called guardians — operated by a set of node operators that include top Solana validators and other ecosystem stakeholders whose incentives are strongly aligned with Solana and Serum.
Wormhole is a decentralized, universal message-passing protocol that connects to multiple blockchains. In simple terms Wormhole allows different blockchains like Ethereum, Binance Smart Chain, Terra, Solana, Polygon, Avalanche and Oasis to communicate with each other.
Can you mine Solana coins? No, as a proof of stake coin Solana cannot be mined, no matter how powerful your hardware or deep your pockets. However Solana does offer two key ways you can help out the network in exchange for rewards: Staking , where you can stake Solana you already own with a validator to earn rewards.
A wormhole (also known as an Einstein-Rosen Bridge) is a special portal or tunnel created to quickly travel from one place to another, no matter the distance between them.
What is BNB wormhole?
Wormhole, the interoperability protocol that facilitates any type of data to be passed between different networks, announced the addition of Binance Smart Chain (BSC) support to its already existing ETH <> SOL token and NFT bridge.
Since nothing can escape from the gravitational force of a black hole, it was long thought that black holes are impossible to destroy. But we now know that black holes actually evaporate, slowly returning their energy to the Universe.
Humans could survive a trip through a wormhole, but there's a catch. There are drawbacks to this method — namely, such wormholes would be only microscopic, which means even the most hardcore exercise routine wouldn't make humans thin enough for the trip.
You don't have to be the size of a planet to do some space-time warping. Large objects such as the Sun and planets aren't the only masses that warp the fabric of space-time. Anything with mass—including your body—bends this four-dimensional cosmic grid.
At a high level, TerraUSD (UST) is a decentralized algorithmic stablecoin that aims to maintain the value of 1 UST=$1 through a “mint/burn” mechanism. Maintaining dollar-peg stability means algorithmically regulating supply and demand of the coin – a computer programme balances the price.
But as digital currency prices fell, investors fled the stablecoin, sending UST tumbling — and taking luna down with it. At its height, the old luna — now known as “luna classic” — had a circulating supply of over $40 billion. Now, luna has a new iteration, which investors are calling Terra 2.0.
Nansen Report shows that UST lost its peg due to the work of multiple large entities. An analytical report by Nansen showed that multiple wallets exploited vulnerabilities in the Terra ecosystem which lead to the collapse of the UST stablecoin and its collateral token LUNA.
Wormhole uses end-to-end encryption to protect your files so they can never be shared or viewed by anyone but you and the intended recipients. Files are permanently deleted from the server after 24 hours.
For every single data transfer up to 10GB, you can utilize SendTransfer for free and without limit. With just a few clicks, you can send large files for free and online. SendTransfer let you upload single or multiple documents. There will be no waiting time when downloading and uploading.
Wormholes can exist within the classical black hole solutions of the Einstein equations. These wormholes are useless for travel, however, as they collapse before any spaceship (or even a ray of light) could pass through them. In addition, the black holes formed by a collapsing star have no associated wormhole at all.
What Solana wallets were hacked?
Several Solana addresses have been linked to the attack (1, 2, 3, 4), with those wallets amassing at least $5 million worth of SOL, SPL and other Solana-based tokens from unsuspecting users.
Solana's SOL tokens are then staked and used as collateral to process transactions on the network. These transactions include everything from validating smart contracts to using Solana as a non-fungible token (NFT) marketplace.
Phantom Wallet
The most popular wallet for storing Solana-based tokens and NFTs. The Phantom Wallet is the most user-friendly software wallet on this list. It offers various staking options incredibly fast swaps and has recently released its iOS App, previously only offering an Android App.
Recently, hackers stole around $5.2 million worth of Solana from 8,000 hot wallets, such as Phantom, Slope, and Trust.
A hot wallet is a wallet that is always connected to the internet; they allow you to store, send, and receive tokens. Hot wallets are linked with public and private keys that help facilitate transactions and act as security measures.
The live XRP price today is $0.330505 USD with a 24-hour trading volume of $595,374,451 USD. We update our XRP to USD price in real-time. XRP is down 0.10% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $16,408,407,492 USD.
Wormhole's post mortem incident report indicated that a signature verification vulnerability was exploited. The perpetrator targeted wETH tokens on Solana that were not tied to Ethereum deposits, bridging them to Ether in order to steal them.
Subsequently, three firms were scheduled before the incident to perform comprehensive and ongoing audits of the Wormhole code base: Kudelski kicked off an audit in the 3rd week of January 2022. Neodyme has recently been contracted to perform ongoing audits to secure Wormhole's roadmap and network additions.
Wormhole is a decentralized, universal message-passing protocol that connects to multiple blockchains. In simple terms Wormhole allows different blockchains like Ethereum, Binance Smart Chain, Terra, Solana, Polygon, Avalanche and Oasis to communicate with each other.
A wormhole (also known as an Einstein-Rosen Bridge) is a special portal or tunnel created to quickly travel from one place to another, no matter the distance between them.