a month ago 2 min read

MakerDAO Clarifies that their Smart Contract was not Used in Jump Reversal Attack

makerdao-ethereum-jump crypto-oasis network

The distinction between third-party front-end providers and the Maker Protocol. No front-end service or product that allows end users to access Maker Vaults is under the control of MakerDAO.

Moreover, MakerDAO did not create or manage any of the frontends that may connect to the Maker Protocol. The Maker Protocol is a publicly available decentralized smart contract framework on Ethereum that enables any provider to interact in a decentralized and permissionless way with its UI solution.

Users can interact with the Maker Protocol thanks to these UI providers' control over the smart contracts that they install. There were no official MakerDAO smart contracts or MakerDAO instructions used in the most recent transaction to alter ownership of Maker Vault 30100. It reaffirms that the Oasis front-end smart contracts are not under control of or controlled by MakerDAO's smart contracts.

It appears that Jump Crypto and Oasis worked together to reveal the exploiter behind the infamous Wormhole attack of February 2022.

One of the largest 2022 crypto loss instances happened as a result of a cyberattack on the Wormhole bridge a little more than a year ago. The total amount seized was roughly 120,000 ETH, which was worth $325 million at the time.

These funds were replaced by Jump Crypto, the cryptocurrency subsidiary of Jump Trading with headquarters in Chicago and a part in the establishment of the Wormhole system. Jump's objective, according to a tweet from the company at the time, was to help Wormhole now as it continues to grow while also making community members whole.

In exchange for returning the money and signing a white hat agreement with Wormhole, the hackers received a $10 million bug prize. It appears that never happened. The Oasis Multisig statement stated:

"In the evening of February 16, 2023, a white hat group contacted our team to let us know that we might be able to assist in the recovery of assets."
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