Jump Crypto is selling over $40 million worth of ETH, recovering assets from the Wormhole incident.
According to Ember monitoring, Jump Crypto exchanged 11,802 stETH (approximately $40.5 million) for ETH within an hour and transferred it to Address 0xf58, with some funds flowing to the exchange. This batch of ETH originated from the stolen assets of the Wormhole hack in February 2023, which Jump collaborated with Oasis to recover. Initially, 120,000 ETH was recovered, and about 28,000 ETH is still held.