Wormhole

Wormhole receives a C+ risk grade (39/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — massive scale and institutional backing, but the $320M exploit proved the 19-node security model can fail catastrophically, and W token collapse has weakened Guardian economic incentives A cross-chain bridge that moves tokens and messages between 30+ blockchains, secured by 19 validator nodes. It holds $1.8B in locked assets and processes $60B+ in annual transfer volume, backed by $225M in funding. Its C+ grade reflects a $320M hack in 2022 where an attacker minted fake tokens, plus a governance token that has dropped 97% since launch and generates under $16,000/month in protocol revenue despite $1.8B TVL.

The key risks identified for Wormhole are: (1) An attacker minted $320M in fake tokens in February 2022 by exploiting a signature bug — only Jump Crypto's bailout prevented total loss for users (2) Just 19 validator nodes secure $60B+ in annual volume — if 13 of them get compromised, an attacker can mint unlimited fake tokens on any chain (3) The governance token has dropped 97% since launch; with W market cap (~$73M) under 5% of bridge TVL ($1.8B), the economic incentive to attack the bridge exceeds the expected W-denominated rewards

Wormhole scores 39/100 across eight risk dimensions: Mechanism Novelty: 5/15, Interaction Severity: 11/20, Oracle Surface: 0/10, Documentation Gaps: 3/10, Track Record: 8/15, Scale Exposure: 7/10, Regulatory Risk: 2/10, Vitality Risk: 3/10. The highest risk area is Scale Exposure at 7/10.

Among 25 rated Bridge protocols on Hindenrank, Wormhole ranks #9 by safety (lowest risk score = safest). Its 39/100 risk score and C+ grade place it among the safer Bridge protocols.

Wormhole scores 8/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.