Crypto Biz Wintermute Loses $160 Million In Cyber Heist

Cryptocurrency market maker Wintermute says $160 million in digital assets have been stolen from it in a cyber-heist, though it assures customers that everything’s fine.

CEO Evgeny Gaevoy admitted on Twitter that Wintermute was suffering from an “ongoing hack” affecting its decentralized finance (DeFi) operations, while its centralized finance and over-the-counter trading operations were unaffected. 

“There will be a disruption in our services today and potentially for next few days and will get back to normal after,” Gaevoy said. He added that funds for customers with Wintermute market maker agreements were safe and that the company, which provides liquidity in the crypto-coin world and trades billions of dollars a day, was still financially solvent “with twice over that amount in equity left.” 

That said, interestingly enough, it’s reported that, judging from blockchain records, Wintermute has more $200 million in outstanding DeFi debt to various parties.

Gaevoy said 90 forms of digital asset, totaling $160 million, were snatched in the attack by miscreants. This includes $114 million in USDC and USDT stablecoins, it’s reported.

As has been the case with some past cryptocurrency robberies, Wintermute is treating the attack as a “white hat” operation, suggesting that if the attacker reaches out to the company they’re willing to not prosecute, and even potentially let the thief keep some of their stolen funds if the rest is returned.

Self-declared “on-chain sleuth” ZachXBT claims to have pinpointed the attacker’s Ethereum wallet with the precision and speed of Wintermute’s namesake, tweeting

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