- Decentralized finance platform seizes funds related to Wormhole hack
- Funds returned to an authorized third party in compliance with a court order
- Whitehat group alerted Oasis to the hole in the architecture of admin multi-sig access
Oasis, a Decentralized Finance (DeFi) platform, announced on Friday that it seized funds related to last year’s $140 million Wormhole bridge hack and delivered them to an authorized third party in compliance with a British court order.
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We are thankful to the Whitehat group for their intervention, which represents an example of how important the community is in our space at this stage. Our mission keeps being to be the most trusted place to deploy and manage your capital in DeFi.
Oasis, the developer of the multi-signature wallet software into which the hacker placed funds, said in a blog post that whitehats recently alerted them to a previously undiscovered hole in the architecture of the admin multi-sig access. This flaw was exploited to recover the funds in response to a court order dated February 21.
Oasis stated this access was intended solely to protect user assets in the case of a prospective attack, and it would have allowed Oasis to swiftly patch any vulnerabilities discovered.
In other news, the market for non-financial tokens appears to be in the midst of a massive sell-off, with leading collections being dumped at an absurd rate.
The last two days have seen the sale of Bored Ape Yacht Club (BAYC) NFTs, perhaps one of the most expensive collections available today, for 58-63 ethers (ETH).
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