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

Jump Crypto executed a significant transaction by converting 11,802 stETH, valued at roughly $40.5 million, into ETH within a single hour, subsequently transferring the assets to the wallet address 0xf58. A portion of these funds was routed to various cryptocurrency exchanges, highlighting strategic liquidity movements. This ETH batch traces back to the Wormhole exploit recovery efforts, where Jump Crypto collaborated with Oasis to reclaim stolen assets in February 2023. Initially, the joint operation successfully retrieved approximately 120,000 ETH, with the consortium currently retaining an estimated 28,000 ETH. This transaction underscores ongoing asset management and recovery activities within the decentralized finance ecosystem, reflecting the importance of coordinated responses to security breaches in the crypto market.