MakerDAO and Oasis Clear Their Positions in Jump Crypto Exploit
MakerDAO (a decentralized reserve bank based on Ethereum) and Oasis (an L1-based decentralized blockchain platform) have recently reacted to recently raised rumours. Recently, it was reported that Jump crypto (the crypto subsidiary of Jump Trading) effectively counter-exploited the party responsible for hacking Wormhole protocol.
Oasis and MakerDAO Negate the Rumors Related to the Recent Counter-Exploit by Jump Crypto
In the year 2022, Wormhole was exploited by the bad actors who took away up to $320M in digital assets by taking benefiting from a vulnerability in the system. Nonetheless, Jump Crypto remained successful in exploiting the hacker and reclaiming digital assets of up to $140M worth. This was included in a weeks-long mutual endeavour carried out by Jump Crypto and Oasis to recover the exploited assets.
The recovery of the funds became possible after a contract that reached between the exploiter and Wormhole. As a result, the exploiter consented to keep $10M as a bug bounty for giving back the stolen funds. The strategy was to recover up to $225M in digital assets and was executed adequately. The remaining $85M has in advance been delivered back to Oasis.
Nonetheless, after the episode of the funds’ recovery, Oasis released a statement in this respect. It clarified that an order was received by the platform from the High Court of England and Wales for the execution of all required moves to redeem the assets existing in the wallet address linked to the Wormhole exploit. The order was given on February 2, according to the company. Subsequently, Oasis added, the recovery operation was carried out by Oasis Multisig and a 3rd party authorized by the court.
It asserted that the assets were rapidly delivered to a wallet administered by the aforementioned 3rd party, in line with the court order. Therefore, the platform has no access or control over the redeemed assets, it added. Oasis gives the credit for the recovery to a group of white hat hackers saying that they identified a vulnerability. As per the platform, the respective hackers exploited that vulnerability to retrieve the swindled funds.
MakerDAO Says Oasis-Based Smart Contracts Do Not Have Control Over Its Smart Contracts
On the other hand, MakerDAO also attempted to clarify its position on the matter. It addressed the rumours regarding the Maker Vault 30100’s ownership by the recent transactions.
Firstly, MakerDAO does not have control over any of the frontend providers or products that enable end-user access to Maker Vaults.
Furthermore, none of the available frontends that connect to the Maker Protocol are developed or maintained by MakerDAO.
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— Maker (@MakerDAO) February 25, 2023
Moreover, the platform denied having any control over the products or frontend providers letting end-users access Maker Vaults. It claimed that MakerDAO and Maker Protocols are two distinct platforms. In addition, it asserted that none of the smart contracts of MakerDAO are controlled by frontend smart contracts of Oasis.
