Crypto News, Feb. 4: Wormhole Bounces Back

For most DeFi projects, the loss of $320 million in a hack would be fatal. But not for Wormhole. Barely a day after 120,000 Wrapped Ether tokens were stolen from the protocol in an audacious hack, its parent company Jump Trading has replaced the lost funds in their entirety. It's a staggering amount of money — and Jump Trading can likely afford it thanks to how it's responsible for executing crypto trades on behalf of Robinhood. Wormhole serves as a bridge between Solana and Ethereum.

A son drugged his father's tea so he could gain access to their crypto wallets. Liam Ghershony laced his dad's drink with benzodiazepine — knocking him out — and then bypassed two-factor authentication to unlock the $400,000 account. He then transferred the Bitcoin inside to another wallet that he controlled, converting two-thirds of it to Ether. Officers found his father on the bedroom floor two days later — and he was treated in hospital for acute organ dysfunction and severe dehydration.

Nintendo has revealed that it is interested in exploring what the metaverse and non-fungible tokens can add to the world of gaming — as long as it adds "joy" to the experience. Although the Super Mario maker believes that digital collectibles and virtual worlds have potential, it's clear the entertainment giant plans to take its time on defining where they can have value. NFTs have come in for criticism among some gamers — amid accusations they simply extract more money from players.

Nike is suing an online retailer that has been selling unauthorized images of its shoes as NFTs. StockX is accused of infringing on the sportswear giant's trademarks — and offering products that could confuse shoppers. Nike has become one of the first companies to embrace the metaverse, and is planning to launch its own range of virtual products later this month. The lawsuit was filed in federal court in New York, and Nike is pushing for an order that will stop StockX from selling the NFTs.