MakerDAO Clarifies Jump Reverse Attack Doesn’t Involve Its Smart Contract
Key Points:
Jump Crypto and Oasis jointly recovered 120,000 ETH of Wormhole stolen funds through a reverse attack, MakerDAO issued a Twitter statement.
The difference between the Maker Protocol and third-party front-end providers. MakerDAO has no control over any front-end provider or product that enables end-users to access Maker Vaults.
Additionally, none of the available frontends to connect to the Maker Protocol are developed or maintained by MakerDAO. The Maker Protocol is a decentralized smart contract system, publicly deployed on Ethereum, allowing any provider to connect in a permissionless and decentralized manner its UI solution.
These UI providers can control the smart contracts they deploy, enabling end users to interact with the Maker Protocol. The recent transaction to change ownership of Maker Vault 30100 did not involve any of MakerDAO’s official smart contracts or MakerDAO instructions. It reiterates that MakerDAO’s smart contracts are not controlled or controlled by the Oasis front-end smart contracts.
The exploiter behind the historic Wormhole assault of February 2022 has been exposed in what appears to be the product of a joint operation by Jump Crypto and Oasis.
The Wormhole bridge was hacked a little over a year ago, resulting in one of the biggest 2022 crypto loss incidents. A total of about 120,000 ETH, worth $325 million at the time, was taken.
[email protected] believes in a multichain future and that @WormholeCrypto is essential infrastructure. That’s why we replaced 120k ETH to make community members whole and support Wormhole now as it continues to develop.
— jump_crypto(@jump_) February 3, 2022
These funds were replaced by Jump Crypto, the cryptocurrency division of Jump Trading with headquarters in Chicago and a role in the creation of the Wormhole system. According to a tweet from the firm at the time, Jump’s goal was to make community members whole and assist Wormhole now as it continues to expand.
The hackers returned the cash in exchange for a $10 million bug reward and a white hat agreement with Wormhole. It seems that never took place.
According to the Oasis Multisig statement, a white hat organization contacted our team on the evening of Thursday, February 16, 2023, letting us know that we might be able to help in the recovery of assets.
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Harold
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