blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Hackers Stole over $160M from Crypto Market Maker Wintermute

Shayan Chowdhury by Shayan Chowdhury
September 20, 2022 - 2:35 pm
in defi news, Market
0
Wintermute
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A leading crypto market maker Wintermute has become a victim of a DeFi hack over $160M. However, the firm remains solvent after the hack.

The crypto verse continues to rise in exploits, hacks, Ponzi schemes, and frauds. These are one of the main reasons that create panic in the market and bring crypto winter. While the crypto market has just begun its recovery phase, a leading crypto market maker Wintermute reported a DeFi hack over $160 million.

Wintermute Becomes The Target

Evgeny Gaevoy, the founder and CEO of the leading crypto maker Wintermute confirmed the DeFi hack through a series of tweets today. The London-based Wintermute’s decentralized finance operation became the latest victim of a DeFi hack in the crypto market. However, the CEO confirmed that the funds in the centralized exchange (CEX) and over-the-counter (OTC) verticals are unaffected. According to Evgeny, the firm, which offers liquidity across major cryptocurrency exchanges and trading platforms, remains solvent after the DeFi hack. 

Short communication on the ongoing Wintermute hack

— wishful cynic (@EvgenyGaevoy) September 20, 2022

Elaborating on this, he stated, “We are solvent with twice over that amount in equity left. If you have a MM agreement with Wintermute, your funds are safe. There will be a disruption in our services today and potentially for the next few days and will get back to normal after. Out of 90 assets that have been hacked only two have been for notional over $1 million (and none more than $2.5M), so there shouldn’t be a major selloff of any sort. We will communicate with both affected teams asap.”

nxSyejDMZEVFfNlqgTkNoczMSruFFVLKjUfLldlBjWWXmnOMYCgmBymwmJItdVTrJhYvipHAtzYTgdKNHndLBbWeTEXTxxMslbXVWBKBLgKNgezyLqOVyfEtsgUYQriitEZvbHEuEtNUiOHivVKymZTvONng

According to Etherscan, nearly 70 different crypto coins were transferred to Wintermute exploiter. The DeFi hack includes $61,350,986 in USD Coin (USDC), 671 Wrapped Bitcoin (wBTC), nearly $13,030,061, and $29,461,533 Tether (USDT). The majority of the hack included USDC.

Wintermute Treats This Hack As A White Hat

The firm wants to treat this hack as a white hat event and requests the attacker to come forward. Evgeny said, “We are (still) open to treating this as a white hat, so if you are the attacker – get in touch.” White hat hackers are common in the crypto world, and sometimes they are rewarded by exchanges, companies with crypto, or job positions. 

Wintermute provides liquidity with 50 exchanges and trading platforms, including Binance, Coinbase, FTX, and Kraken, as well as decentralized platforms like Uniswap and Dydx. The firm has been a bullish investor, backed by startups including Nomad, HashFlow, and Ondo Finance. Wintermute is located in Cheshire, and it is regulated by the Financial Conduct Authority. 

However, Wintermute did not announce the timing of the hack or how the hackers were able to succeed and withdraw such funds. In addition, the firm has not made it clear whether it has informed law enforcement about lodging an investigation. 

Wintermute becomes the latest in a growing list of crypto firms to be victims of a hack in recent months. Previously, hackers stole over $190 million from the cross-chain messaging protocol Nomad. Axis Infinity’s Ronin Bridge also became a victim of a hack and lost over $600 million this April, and Harmony’s Horizon bridge was hacked for over $100 million in June. According to a report from crypto auditing platform Certik, over $1.3 billion were lost in the DeFi hack last year.

Tags: AltcoinsCryptoCryptocurrencyDeFiMarket
ShareTweet
Shayan Chowdhury

Shayan Chowdhury

Shayan Chowdhury is a freelance writer and digital nomad. He loves thinking, learning and writing about the crypto space. He is a crypto enthusiast who has gathered 3 years of writing experience. Through his in-depth research about the Web3 and analysis, he delivers high-quality engaging articles with clarity.Besides being a skilled journalist, he is a professional video editor. In the era of blockchain, he aspires to touch overwhelming success. He now works for BlockchainReporter as a news writer.

Recommended For You

Weekly Analysis: Ripple Dominates with Impressive Weekly Stats

by Kester Odero
June 4, 2023 - 10:47 am
0
ripple xrp

This week as been rather volatile for several cryptos with Ripple recording massive gains for the week, recording a 10% gain in one week.

Read more

Crypto Markets Rally as Arbitrum Makes Trends with Impressive Gains 

by Kester Odero
June 3, 2023 - 10:59 am
0
arbitrum

Today's market session as seen cryptos surge as the majority record gains in valuation with Arbitrum making trends with impressive gains.

Read more

Markets Recover with LINA and NIHAO Dominating

by Kester Odero
June 2, 2023 - 10:53 am
0
cryptocurrency altcoins

LINA is dominating again with notable gains as NIHAO also boasts massive gains of over 140% ahead of today's market recovery session.

Read more

XDC Network Rallies as Markets Face a Downtrend

by Kester Odero
June 1, 2023 - 10:18 am
0
XDC Price Prediction

Today's market session has seen several cryptocurrencies drop in valuation as XDC Network dominated with notable gains of over 20%.

Read more

Bybit Sets New Standard for Institutional Traders with Game-Changing Options Trading Offer

by Mushu Butt
June 1, 2023 - 10:00 am
0
Bybit

Leading crypto exchange Bybit has today announced a lucrative new offer for options trading, setting a new standard for institutional options traders.

Read more
Next Post
NFT DAY

The Metaverse Called NFT Day Formally Launches on The Sandbox

PARTNERS LIST

  • sp

PRESS RELEASE

OvalPixelAIPlayEarngamedXUyMpCt

OvalPixel Launches Groundbreaking Play-to-Earn OPAIG AI Game Token

by Chainwire
June 2, 2023 - 7:53 pm
0

Los Angeles, USA, June 2nd, 2023, ChainwireOvalPixel announced the launch of its groundbreaking blockchain-powered artificial intelligence (AI) trivia game that...

photoy

Regulation Becoming a Problem? Here’s Why Hybrid DeFi Platform HedgeUp (HDUP) Is the Future

by Max Clark
June 2, 2023 - 12:54 pm
0

Explore the emerging world of crypto and blockchain regulation and understand why HedgeUp (HDUP), a hybrid DeFi platform, stands resilient.

DiscoverthePowerofBRCLearnNowxnxuMuCflZ

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

by Chainwire
June 1, 2023 - 8:13 pm
0

SAN FRANCISCO, UNITED STATES, June 1st, 2023, ChainwireWith BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens...

photoy

HedgeUp (HDUP) Showcases Why It’s a Better Token Than Chainlink (LINK) and Solana (SOL)

by Max Clark
June 1, 2023 - 1:38 pm
0

Explore the dynamic world of cryptocurrencies with our detailed analysis of HedgeUp (HDUP), Chainlink (LINK), and Solana (SOL).

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise