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Crypto’s Wormhole Hacker Moves $150 Million to Tap Popular Trade
A digital-asset wallet linked to one of crypto’s biggest hacks has moved more than $150 million of stolen funds for the first time in months to tap a trade involving staked Ether. The crypto community on Monday began noticing blockchain data showing that the funds were converted into staked Ether and then wrapped staked Ether — tokens that are supported on the Lido decentralized finance platform. The data signals that the hacker used the wrapped staked Ether as collateral to take a $13 million loan in the DAI stablecoin, which was in turn used to buy more staked Ether. The exploiter subsequently repeated the ... (full story)