Jump Crypto's conversion of stETH to ETH reflects ongoing recovery efforts from the 2023 Wormhole hack, with further assets still to be liquidated.
On July 17, Jump Crypto converted 11,802 stETH, valued at approximately $40.5 million, into ETH, transferring the assets to address 0xf58. This transaction is part of their recovery from the February 2023 Wormhole hack, from which they initially recovered 120,000 ETH, with an estimated 28,000 ETH remaining to be sold.