Wintermute: Crypto market maker loses $160m in latest DeFi hack
Crypto market maker Wintermute has lost around $160m in a decentralised finance (DeFi) hack as it becomes the latest crypto firm to suffer a breach.
The London-based firm provides liquidity to DeFi exchanges and trading platforms, such as Binance and FTX, and has been operational since 2017. Wintermute CEO Evgeny Gaevoy took to Twitter to confirm the breach, but stated the firm’s centralised activity and over-the-counter services remain unaffected.
Short communication on the ongoing Wintermute hack
— wishful cynic (@EvgenyGaevoy) September 20, 2022
Company remains solvent despite breach
Gaevoy also confirmed that 90 separate assets were stolen, of which only two were recorded to have been for over $1m, and none more than $2.5m.
“There shouldn’t be a major sell-off of any sort. We will communicate with both affected teams ASAP,” Gaevoy said. He added that while it would be open to treating the incident as a white hat attack, the firm remains solvent and operational, with around $320m in equity remaining.
Gaevoy also warned customers that there could be a disruption in Wintermute’s services “today” and potentially for a few days following the breach, before all services go back to normal.
“If you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that,” added Gaevoy.
If you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that
— wishful cynic (@EvgenyGaevoy) September 20, 2022
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