A digital asset wallet linked to one of the most significant cryptocurrency hacks of all time has reportedly just moved more than $150 million in stolen funds and unlocked a multi-million dollar stake ether ETH/USD act.

What happened: According to a report by BloombergOn Monday, the crypto community was buzzing with activity after blockchain data revealed that funds stolen in a recent hack were converted into staked ether and then packaged into staked ether tokens (backed on decentralized finance platform Lido).

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It appears that the hacker used the wrapped ether as collateral to take out a $13 million loan DAI DAI/USD Stablecoin, which was then used to buy more staked Ether. To further compound the exploit, the hacker repeated the trade.

Staking involves locking Ether coins to secure the Ethereum network. Protocols like Lido allow users to access staking rewards with more flexible and accessible liquid avatars of these locked tokens.

The wormhole is a popular connecting bridge Solana SOL/USD with Ethereum. Last year it was over $326 million stolen in a wormhole hack. Cream finances was the latest victim with $8.8 million stolen. After negotiations, the hacker returned the stolen funds for a $1.68 million bounty offered by the company.

Price promotion: ETH traded at $1,638, up 0.45%. SOL traded at $24.92, up 1.40% in the last 24 hours, according to Benzinga Pro.

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