Crypto Market Maker Wintermute hacked for $160M in ongoing attack

CeFi and OTC operations remain unaffected.
Crypto Market Maker Wintermute hacked for $160M in ongoing attack

Evgeny Gaevoy, founder and CEO of Wintermute has reported in a series of tweets that the crypto market maker is facing an ongoing attack.

“We’ve been hacked for about $160M in our defi operations. Cefi and OTC operations are not affected,” he stated.

He assured lenders that they “are solvent with twice over that amount in equity left,” but if they feel safer to recall the loan “we can absolutely do that.”

Gaevoy added that they are still open to treating this as a whitehat attack and urge the hacker to get into contact with them.

“If you have a [MetaMask] agreement with Wintermute, your funds are safe. There will be a disruption in our services today and potentially for next few days and will get back to normal after,” he added.

At the time of writing, the amount stolen sits at $160 million with no single asset having more than $2.5 million stolen – “so there shouldn’t be a major selloff of any sort.”

Wintermute is a market maker that provides liquidity across multiple venues. They support all major exchanges and pairs, covering centralized and decentralized exchanges and trading platforms.

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Liam Peak
Liam Peak
Liam is the founder and head editor at Coinmash. Previously working as a blockchain developer, he enjoys sharing insights on DeFi, NFTs, and Blockchain tech. Occasionally he'll share a thought or two and cover some breaking news surrounding Web3.