Cryptocurrency company said hackers stole $160 million

By Al Mayadeen English
Source: Agencies
21 Sep 2022 15:23

Wintermute reports the theft of 90 assets worth $160 million.

Cryptocurrency company said hackers stole $160 million

According to Wintermute's CEO Evgeny Gaevoy, the cryptocurrency company has “been hacked for about $160 million."

This comes as the latest multimillion-dollar cyber heist in DeFi - or decentralized finance - after $625 million were stolen from Ronin Network in March in a hack with the US blamed on North Korea.

In addition, Nomad, another company, also recently said hackers stole almost $200 million in assets.

Gaevoy wrote in a Twitter threat that the hackers hit Wintermute's DeFi operations though not affecting its CeFi - or centralized finance - or OTC, the company's over-the-counter services. He further warned customers that there will be a disruption in the company's services today, and potentially for the next few days.

Wintermute functions as a "market marker" for crypto, holding a large inventory of a particular asset to keep the market liquid by ensuring users that there are people to trade with.

Last week, Wintermute announced a deal with TRON, a network and blockchain, to take control of the potentially manipulative effect that large traders can have on asset prices as they trade with other users.

Gaevoy revealed that of the 90 assets that were stolen, only 2 had a value of a million dollars. He made no mention of which tokens were stolen, saying “We will communicate with both affected teams asap."