Jump Crypto Converts 11,802 stETH to ETH in Major Wormhole Asset Recovery Operation

Key Points

1. Jump Crypto converted 11,802 stETH (worth ~$40.5M) to ETH in one hour, sending it to wallet 0xf58.

2. Part of the funds was moved to various cryptocurrency exchanges for liquidity purposes.

3. The ETH originated from the Wormhole exploit recovery, where Jump Crypto and Oasis reclaimed ~120,000 ETH in February 2023.

4. The consortium still holds ~28,000 ETH from the recovered assets.

5. The transaction is part of ongoing efforts to address security breaches in the crypto market.