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Wormhole Hacker Moves $46M Worth Of Stolen Crypto

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$46 million worth of stolen crypto assets have been moved from the hacker's wallet.

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The theft occurred as a result of the Wormhole attack in February 2022, which was the third-largest crypto hack of the year.

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The stolen assets included 24,400 Lido Finance-wrapped Ethereum staking tokens (wstETH) worth $41.4 million and 3,000 Rocket Pool Ethereum staking tokens (rETH) worth $5 million.

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The hacker appears to be seeking yield or arbitrage opportunities and has exchanged the assets for 16.6 million DAI.

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The DAI was used to purchase 9,750 ETH, 1,000 stETH, which were then wrapped back into 9,700 wstETH.

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On February 10th, the hacker was observed "buying the dip."

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The price of Ether has since fallen, with ETH currently down 2.6% on the day at $1,505.

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At the time of the transfers, stETH prices climbed as high as $1,570 and was trading 2.4% higher than ETH at $1,541.

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WstETH also depegged from Ethereum and rose to $1,676, 11.3% higher than the underlying asset.

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Blockchain security firm PeckShield reported the recent movements of the stolen assets.

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