Oasis Uses Its Own Wallet Software To Seize Crypto Stolen from Wormhole Hack

Oasis, a Decentralized Finance (DeFi), platform, announced Friday that it had seized assets related to the Wormhole bridge’s $140million exploit last year and has returned them to an “authorized party” following a British court order.

In a blog postOasis, a multi-signature wallet developer that the hacker had deposited funds into, stated whitehats had recently notified Oasis of “a previously unknown vulnerability” in the admin multisigaccess design. This was following a February 21. It exploited the vulnerability to reclaim the funds following a High Court of England and Wales order.

Oasis stated that the access was only intended to protect user assets in case of an attack and would have allowed them to quickly patch any vulnerabilities.

It stated that it had returned the funds to an authorized third party. A Blockworks article preceding Oasis’ post on Oasis identified Jump Crypto, the developer of Wormhole, as the owner of the wallets which received the seized funds.

Jump Crypto didn’t immediately respond.

By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.