Crypto platform Wormhole says 'funds are safe' after $320-mn hack

Hack is fourth-biggest ever crypto theft as DeFi sites are increasingly being targeted by criminals* Wormhole says on Telegram channel 'all funds are safe'

Cryptocurrency platform Wormhole said on Thursday that "all funds are safe" after hackers stole more than $320 million from its site in the fourth-largest crypto heist on record.

Wormhole which allows the transfer of information from one crypto network to another, said on Twitter on Wednesday that it was "exploited" for 120,000 units of a version of the second-largest cryptocurrency, ether.

At the time of the announcement, the market value of the tokens totalled just over $320 million.

The theft was the latest to shake the fast-growing but mostly unregulated decentralised finance (DeFi) sites, which allow users to lend, borrow and save -