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Podcast Summary: Into the Wormhole

Justin Schuldt

Cross-Chain

Feb 12 2022 _ 1 min read

It’s been quite a week.

We want to take a step back and further explain why we chose to add 120k of stolen ETH back into the Wormhole bridge.

We believe the future will be cross-chain and that Wormhole is an essential piece of infrastructure to get us there. Wormhole is an interoperability protocol that operates across 7 different chains. The protocol is in its very early days, and we believe that our decision to replenish the ETH gives Wormhole time to develop and grow into its full potential.

Almost as soon as we recognized the hack, we made the decision to stand behind the project. We went out to the open market to buy 120k ETH and quickly moved it onto the bridge.

Ever since, we have been actively trying to recover the stolen ETH. Wormhole is now offering a $10 Million Bug Bounty reward for critical bugs through immunefi.com. We believe it is vital to motivate white hat hackers to help keep the ecosystem secure. That’s why we are offering the largest bounty for critical attack in the crypto industry.

We need your help. We strongly encourage you to go after these bounties. If you find a bug, please report it here: https://immunefi.com/bounty/wormhole and we will keep everyone posted on the bounty’s progress.

We need to support and promote a safe and entrepreneurial environment for crypto.

Listen to the full podcast here.

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