Wormhole hacker buys Lido’s stETH on heavy margin
Stolen assets from the Wormhole hack are looping DAI and ETH to acquire a leveraged-long position on LidoDAO’s liquid staking token, stETH.
Cryptocurrency news by Protos · Protos
February 6, 20234m 53s
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Show Notes
Readers might remember the curious heist of Wormhole, the inter-blockchain bridge that linked assets between the blockchains of Ethereum and Solana. Not only was it history’s largest bridge loss at $325 million, it was also championed by fraudster Sam Bankman-Fried and capitalized by a multi-billion dollar trading firm, Jump. A large amount of those funds are now being used to buy stETH on margin.
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