Crypto companies giving a helping hand to each other
A Good helping hand in the world seems very distance especially when millions of dollars are on the line. In the world technology, the competition is very hot and is a neck and neck race for companies trying to release the latest and most fascinating technology to the public. Recently, A crypto company decided to another fellow competitor get back on their feet. This acts of kindness can provide a bright light on the reputation of the ruthless competitive nature technology companies have by default. Jump Crypto, a company in the cryptocurrency industry generously decide to step in and help out another crypto competitor Warmhole by replenishing funds were stolen by hackers.
The Warmhole incident
Warmhole reported on Wednesday February 2, 2022, that 120 thousand in crypto worth estimated $320 million had been stolen form their platform. This was a major blow to the cryptocurrency industry due to the staggering popularity that crypto had gained from investors over the last few years. Reports have stated that Warmhole offered the perpetrators of the hack $10 million for their intel on the theft job and replenishment of the funds.
Jump Crypto replenishing stolen funds to Warmhole
Just days after the massive hack on Warmhole another company by the name of Jump Crypto decided to step in and help out Warmhole’s financial situation by delivery the estimated stolen amount back to Warmhole. This angel act can be a lesson in the world of a competitive market of technology by displaying this example that hopefully can create a domino effect. traditionally, companies are racing to defeat one another or even worse…attempt to put its competitors out of business to show its superior nature to the market. The act of kindness from Jump Crypto restored Warmholes’ operation, helping get the platform up and running again. The question still remains, what is going to happen going forward?
Final thoughts, What happens next?
Questions linger, palms sweat, and the unknown is still here about what happens in the future when it comes to this type of incident. The specific theft job of these hackers are still unknown, the identities of the perpetrators are are in the wind, what consequences will be brought forward if they are caught? “if” they are caught is the keyword. Additionally, the large estimated amount of $320 million is still missing, How will those funds be found? This mystery is challenge for our tech industry and law makers going forward to secure the industry as a whole. However, with more time, investments and innovative ideas in security, the full potential of cypto safety will reach its full potential. Until then traces of these crimes and funds are known and the future of the crypto platform evidently will have grown in this area.
