{"id":1673506,"date":"2022-09-20T06:11:31","date_gmt":"2022-09-20T10:11:31","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/?post_type=station&#038;p=1673506"},"modified":"2022-09-21T19:32:58","modified_gmt":"2022-09-21T23:32:58","slug":"crypto-market-maker-wintermute-lost-160-million-to-hackers","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/crypto-market-maker-wintermute-lost-160-million-to-hackers\/","title":{"rendered":"Crypto Market Maker Wintermute Lost $160 Million to Hackers"},"content":{"rendered":"<div><\/div>\n<div data-v-78d3bc4a=\"\">\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Wintermute, a cryptocurrency market maker, has become the latest victim of hackers as $160 million worth of digital currencies were siphoned from its decentralized finance (DeFi) operations.<\/p>\n<aside class=\"automated-link\" data-v-25b4fe84=\"\" data-v-78d3bc4a=\"\"><a href=\"https:\/\/events.financemagnates.com\/londonsummit2022\/?utm_source=FM&amp;utm_medium=link&amp;utm_campaign=FMLS22\" rel=\"Nofollow noopener\" target=\"_blank\" data-v-25b4fe84=\"\"><br \/>\n    Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.<br \/>\n  <\/a><\/aside>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">The Founder and CEO, Evgeny Gaevoy confirmed the <a href=\"https:\/\/www.financemagnates.com\/tag\/hack\/\" target=\"_blank\" class=\"article-link\" data-v-78d3bc4a=\"\" rel=\"noopener\">hack <\/a>with a tweet and revealed that its lending and over-the-counter (OTC) services were not affected.<\/p>\n<blockquote class=\"twitter-tweet article-body__parent-element\" data-v-78d3bc4a=\"\">\n<p lang=\"en\" dir=\"ltr\" data-v-78d3bc4a=\"\">We\u2019ve been hacked for about $160M in our defi operations. Cefi and OTC operations are not affected.<\/p>\n<p>\u2014 wishful cynic (@EvgenyGaevoy) <a href=\"https:\/\/twitter.com\/EvgenyGaevoy\/status\/1572134273875951617?ref_src=twsrc%5Etfw\" class=\"article-link\" data-v-78d3bc4a=\"\">September 20, 2022<\/a><\/p><\/blockquote>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Additionally, Gaevoy highlighted that the company is \u201csolvent with twice over\u201d $160 million in \u201cequity left.\u201d<\/p>\n<aside class=\"related-articles\" data-v-1a0049b8=\"\" data-v-78d3bc4a=\"\">\n<p>Keep Reading<\/p>\n<\/aside>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">\u201cIf you have a MM 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,\u201d he added.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">\u201cIf you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that.\u201d<\/p>\n<aside class=\"from-our-directory\" data-v-46902626=\"\" data-v-78d3bc4a=\"\"> <\/aside>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">On top of that, the crypto startup is considering the cyberattack as a white hat incident and urged the attacker to get in touch.<\/p>\n<h2 class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">A Major Crypto Market Maker<\/h2>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Wintermute was founded in 2017 and primarily operates as a cryptocurrency market maker, providing <span data-ref=\"term-wrapper\" class=\"term__wrapper\" data-v-18cc41ba=\"\" data-v-78d3bc4a=\"\"><span class=\"term__term-title-container\" data-v-18cc41ba=\"\"><span class=\"term__term-title\" data-v-18cc41ba=\"\">liquidity<\/span><\/span> <\/span> across various markets. It was officially selected by the Tron network as the official <a href=\"https:\/\/www.financemagnates.com\/tag\/defi\/\" target=\"_blank\" class=\"article-link\" data-v-78d3bc4a=\"\" rel=\"noopener\">DeFi<\/a> market maker.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">According to Etherscan, more than 70 different digital currencies were transferred to the Wintermute exploiter\u2019s wallet. More than $61 million in USDC tokens were siphoned off, followed by $29.4 million in Ether and roughly $13 million in Wrapped Bitcoin.<\/p>\n<div data-ref=\"banner\" class=\"banner__outer-wrapper article__mpu-banner\" data-v-78d3bc4a=\"\"><span class=\"banner__info text-tiny hide-on-tablet hide-on-desktop-sm hide-on-desktop-md hide-on-desktop-lg hide-on-desktop-full-hd\">ADVERTISEMENT<\/span> <\/div>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">DeFi is often touted as the real challenger to the centralized banking system. However, the technology remains too vulnerable. According to the estimation of the blockchain security firm, Certik, more than $1.3 billion in <span data-ref=\"term-wrapper\" class=\"term__wrapper\" data-v-18cc41ba=\"\" data-v-78d3bc4a=\"\"><span class=\"term__term-title-container\" data-v-18cc41ba=\"\"><span class=\"term__term-title\" data-v-18cc41ba=\"\">cryptocurrencies<\/span><\/span> <\/span> were stolen in DeFi hacks last year.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">This year too, hackers have managed to siphon off hundreds of millions of dollars from DeFi platforms. Crypto bridge Nomad lost around $200 million in August to hackers followed by the $570,000 hack of DeFi protocol Curve Finance.<\/p>\n<\/div>\n<div data-v-78d3bc4a=\"\">\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Wintermute, a cryptocurrency market maker, has become the latest victim of hackers as $160 million worth of digital currencies were siphoned from its decentralized finance (DeFi) operations.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">The Founder and CEO, Evgeny Gaevoy confirmed the <a href=\"https:\/\/www.financemagnates.com\/tag\/hack\/\" target=\"_blank\" class=\"article-link\" data-v-78d3bc4a=\"\" rel=\"noopener\">hack <\/a>with a tweet and revealed that its lending and over-the-counter (OTC) services were not affected.<\/p>\n<aside class=\"automated-link\" data-v-25b4fe84=\"\" data-v-78d3bc4a=\"\"><a href=\"https:\/\/events.financemagnates.com\/londonsummit2022\/?utm_source=FM&amp;utm_medium=link&amp;utm_campaign=FMLS22\" rel=\"Nofollow noopener\" target=\"_blank\" data-v-25b4fe84=\"\"><br \/>\n    Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.<br \/>\n  <\/a><\/aside>\n<blockquote class=\"twitter-tweet article-body__parent-element\" data-v-78d3bc4a=\"\">\n<p lang=\"en\" dir=\"ltr\" data-v-78d3bc4a=\"\">We\u2019ve been hacked for about $160M in our defi operations. Cefi and OTC operations are not affected.<\/p>\n<p>\u2014 wishful cynic (@EvgenyGaevoy) <a href=\"https:\/\/twitter.com\/EvgenyGaevoy\/status\/1572134273875951617?ref_src=twsrc%5Etfw\" class=\"article-link\" data-v-78d3bc4a=\"\">September 20, 2022<\/a><\/p><\/blockquote>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Additionally, Gaevoy highlighted that the company is \u201csolvent with twice over\u201d $160 million in \u201cequity left.\u201d<\/p>\n<aside class=\"related-articles\" data-v-1a0049b8=\"\" data-v-78d3bc4a=\"\">\n<p>Keep Reading<\/p>\n<\/aside>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">\u201cIf you have a MM 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,\u201d he added.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">\u201cIf you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that.\u201d<\/p>\n<aside class=\"from-our-directory\" data-v-46902626=\"\" data-v-78d3bc4a=\"\"> <\/aside>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">On top of that, the crypto startup is considering the cyberattack as a white hat incident and urged the attacker to get in touch.<\/p>\n<h2 class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">A Major Crypto Market Maker<\/h2>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">Wintermute was founded in 2017 and primarily operates as a cryptocurrency market maker, providing <span data-ref=\"term-wrapper\" class=\"term__wrapper\" data-v-18cc41ba=\"\" data-v-78d3bc4a=\"\"><span class=\"term__term-title-container\" data-v-18cc41ba=\"\"><span class=\"term__term-title\" data-v-18cc41ba=\"\">liquidity<\/span><\/span> <\/span> across various markets. It was officially selected by the Tron network as the official <a href=\"https:\/\/www.financemagnates.com\/tag\/defi\/\" target=\"_blank\" class=\"article-link\" data-v-78d3bc4a=\"\" rel=\"noopener\">DeFi<\/a> market maker.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">According to Etherscan, more than 70 different digital currencies were transferred to the Wintermute exploiter\u2019s wallet. More than $61 million in USDC tokens were siphoned off, followed by $29.4 million in Ether and roughly $13 million in Wrapped Bitcoin.<\/p>\n<div data-ref=\"banner\" class=\"banner__outer-wrapper article__mpu-banner\" data-v-78d3bc4a=\"\"><span class=\"banner__info text-tiny hide-on-tablet hide-on-desktop-sm hide-on-desktop-md hide-on-desktop-lg hide-on-desktop-full-hd\">ADVERTISEMENT<\/span> <\/div>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">DeFi is often touted as the real challenger to the centralized banking system. However, the technology remains too vulnerable. According to the estimation of the blockchain security firm, Certik, more than $1.3 billion in <span data-ref=\"term-wrapper\" class=\"term__wrapper\" data-v-18cc41ba=\"\" data-v-78d3bc4a=\"\"><span class=\"term__term-title-container\" data-v-18cc41ba=\"\"><span class=\"term__term-title\" data-v-18cc41ba=\"\">cryptocurrencies<\/span><\/span> <\/span> were stolen in DeFi hacks last year.<\/p>\n<p class=\"article-body__parent-element\" data-v-78d3bc4a=\"\">This year too, hackers have managed to siphon off hundreds of millions of dollars from DeFi platforms. Crypto bridge Nomad lost around $200 million in August to hackers followed by the $570,000 hack of DeFi protocol Curve Finance.<\/p>\n<\/div>\n","protected":false},"author":1,"featured_media":1673507,"template":"","meta":{"_eb_attr":"","type":"","auto_type":false,"post":"","stream":"","stream_url":"","waveform_data":[],"duration":0,"start":0,"end":0,"bpm":0,"downloadable":false,"download_url":"","purchase_title":"","purchase_url":"","post-count-all":0,"like_count":0,"download_count":0,"editor_note":"","copyright":"","captions":[],"sources":[]},"genre":[41],"station_tag":[3634,3884,14560,6428,3888,14557,4150,14559,5019,3767,4158,4302,3837,3646,15064,4089,4479,14576,7457,14558,8453,12764,9642,14556,8593,14575,7894,14555],"artist":[6061],"mood":[],"activity":[],"_links":{"self":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station\/1673506"}],"collection":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station"}],"about":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/types\/station"}],"author":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/media\/1673507"}],"wp:attachment":[{"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/media?parent=1673506"}],"wp:term":[{"taxonomy":"genre","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/genre?post=1673506"},{"taxonomy":"station_tag","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/station_tag?post=1673506"},{"taxonomy":"artist","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/artist?post=1673506"},{"taxonomy":"mood","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/mood?post=1673506"},{"taxonomy":"activity","embeddable":true,"href":"https:\/\/platodata.io\/wp-json\/wp\/v2\/activity?post=1673506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}