Wintermute, a cryptocurrency market maker based in the United Kingdom, became the latest victim of decentralized finance (DeFi) hacks, losing approximately $160 million, according to Evgeny Gaevoy, the company’s founder and CEO.
Short communication on the ongoing Wintermute hack
— wishful cynic (@EvgenyGaevoy) September 20, 2022
According to Etherscan, over 70 different tokens have been transferred to “Wintermute exploiter,” including $61,350,986 in USD Coin (USDC), 671 Wrapped Bitcoin (wBTC), which is roughly $13,030,061, and $29,461,533 Tether (USDT). The largest token sum appears to be USDC.
The company’s over-the-counter and centralized finance operations were not affected, as the hacker(s) drained funds from its DeFi operations. Gaevoy stated that the market maker is solvent with twice the stolen amount in equity left, stressing that users’ funds are safe.
Wintermute is an algorithmic market maker working with digital assets such as cryptocurrencies. The group is…