Wintermute’s lending and OTC operations have not been affected despite the hack.
Cryptocurrency market maker Wintermute has lost $160 million in a hack relating to its decentralized finance (DeFi) operation, according to a tweet from the company’s founder and CEO, Evgeny Gaevoy.
- The firm’s lending and over-the-counter (OTC) services have not been affected. Decentralized finance refers to financial activities carried out on the blockchain without the use of third parties.
- Gaevoy said the company remains solvent, with “twice over” $160 million remaining in equity.
- Wintermute is the latest in a long list of crypto companies to be stung by hacks over the past few months. Crypto bridge Nomad had nearly $200 million drained in August shortly before DeFi protocol Curve Finance had $570,000 stolen. Blockchain security firm Certik estimated that more than $1.3 billion had been lost to DeFi hacks last year.
- Founded in 2017, Wintermute trades billions of dollars across crypto market daily as it provides Cryptocurrency market maker Wintermute has lost $160 million in a hack relating to its decentralized finance (DeFi) operation, according to a tweet from the company’s founder and CEO, Evgeny Gaevoy.liquidity across multiple venues. Last week it was named as the official DeFi market maker for the Tron network.
- Gaevoy added that the company is still treating the hack as a “white hat” event and asked the hacker to get in touch. The hacker’s wallet has been tracked down by on-chain sleuth ZachXBT; it currently holds around $9 million in ether (ETH) and $38 million in other ERC-20 tokens.
- The firm suffered a mishap earlier this year when it sent $15 million of optimism (OP) tokens to a wrong address. The tokens were eventually returned by the recipient.
- Wintermute did not immediately respond to CoinDesk’s request for comment.