Crypto Market Maker Wintermute Suffers a $160M Hack

Dejan Cvetnarevic
Dejan Cvetnarevic

Updated · Sep 20, 2022

SHARE:

Techjury is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more.

The popular digital asset market maker says OTC services were not affected.

Crypto Hacker Attacks Continue

According to Wintermute founder and CEO, Evgeny Gaevoy, the company has been exploited for about $160 million in its decentralized finance operations. Its centralized finance and over-the-counter services have not been affected.

“We are solvent with twice over that amount in equity left,” he said on Monday. “If you have a MM agreement with Wintermute, your funds are safe.”

Gaevoy also said that 90 assets had been compromised, but only two among them are worth more than $1 million. Neither is worth over $2.5 million. Because of this, “there shouldn’t be a major selloff of any sort.”

In the announcement, Gaevoy stated that if lenders feel it is safer to recall their loans, they can do so.

The company is still ready to treat the breach as a white hat hacker attack, and it encourages the perpetrator to get in touch.

On-chain sleuth ZachXBT has since tracked down the attacker’s wallet and found out it has about $9 million in ether and $38 million in other ERC-20 tokens.

Wintermute is the latest in the list of digital asset companies suffering hacker attacks in the past few months. Internet wrongdoers have stolen over $1.9 billion in crypto so far this year.

SHARE:

Dejan Cvetnarevic

Dejan Cvetnarevic

Dejan is a techie at heart who always dreamed of turning his fascination with gaming into a career. He finds working for TechJury a perfect opportunity to express his views of all kinds of different software. Being an avid reader, particularly of fantasy and sci-fi, Dejan pursued a degree in English Language and Literature. When not at his computer, he’s watching sports or playing tabletop games.

Leave your comment

Your email address will not be published.