Oasis Network Recovers Stolen Crypto From Wormhole Hack

• On February 2nd, the Wormhole Network was hacked and approximately $326 million worth of cryptocurrency was stolen.
• Oasis Network collaborated with whitehat hackers to recover some of the funds that had been stolen.
• A ruling from the High Court of England and Wales permitted Oasis Network to exploit a previously unknown weakness in order to retrieve the stolen assets.

Cryptocurrency Stolen From Wormhole Network

On February 2nd, Wormhole, a decentralized finance (DeFi) platform, suffered a hack which resulted in approximately $326 million worth of cryptocurrency being stolen. The hacker later transferred some of these funds away from Wormhole.

White Hat Hackers Assist Oasis Network

In response to this attack, Oasis Network – which develops multi-signature wallet software – partnered up with “white hat” hackers who suggested a method for recovering the stolen assets. After receiving permission from the High Court of England and Wales on February 21st, they exploited a previously unknown weakness in order to get back the stolen funds.

What Is White Hat Hacking?

White hat hackers are ethical hackers whose job is to detect weaknesses in networks and report them so that they can be fixed before any malicious activity takes place. They are often referred to as “good guys” compared to blackhat hackers who use their skills for malicious purposes such as stealing data or money.

Recovering Funds With Multi-Signature Wallet Software

By utilizing its multi-signature wallet software, Oasis was able to carry out the plan proposed by white hats and deliver the recovered assets to an approved third party as required by court order. The company made it clear that they do not have control or access over these assets anymore once they were delivered successfully.


The collaboration between Oasis Network and white hat hackers proved successful in recovering some of the funds that had been taken from Wormhole during its security breach on February 2nd. Although this incident highlights why proper security measures need to be taken when dealing with digital currencies, it is also reassuring that there are experts available whose job is solely dedicated towards keeping networks safe from malicious activities.