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Wintermute Got Hacked: Everything You Need to Know About It

Wintermute hacked

A leading crypto market maker, Wintermute, has been hacked. About $160 million was taken away from its decentralized-finance operations.

In a series of Tweets Evgeny Gaevoy, the CEO of Wintermute, disclosed the news.

In the thread, the company has put out few statements as announcement including:

  • Only DeFi operations are affected. The centralized finance and OTC operations are not affected. However, as a user, you might experience disruption in services as the Wintermute team is getting in the depth of the issues.
  • A total of 90 assets have been hacked. Only two of which are in between $1 to $2.5 million. The company has announced that there is no major sell out planned, so we can assume the business has its footing strong.
  • Wintermute also assured the partners, lenders, and users that it is NOT getting insolvent. It is solvent and has double the amount of around $320 million in equity left.
  • It is a private company, hence, we can assume the total valuation of the company was around $480 million.

Experts on Twitter have been making their best bets on how the hack happened. If rumours are to be believed, it was a hot wallet compromise due to the Profanity bug that was publicly disclosed a few weeks ago. However, we still await company’s official statement to confirm how and what exactly happened. Till then stay tuned on latest news with Coin Crunch.

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