1:31:43 AM PDT - Sunday, September 25th, 2022

Crypto market maker Wintermute loses $160 million in DeFi hack  

By Editor - Tue Sep 20, 2:39 am

Wintermute, a leading crypto market maker, has lost about $160 million in a hack, a top executive said Tuesday, becoming the latest firm in the industry to suffer a breach. Evgeny Gaevoy, the founder and chief executive of Wintermute, disclosed in a series of tweets that the firm’s decentralized finance operations had been hacked, but centralized finance and over the counter verticals aren’t affected. He said that Wintermute — which counts Lightspeed Venture Partners, Pantera Capital and Fidelity’s Avon among its backers — remains solvent with “twice over that amount in equity left.” He assured lenders that if they wish to recall their loans, Wintermute will honor that. “If 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,” he wrote.

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Crypto market maker Wintermute loses $160 million in DeFi hack

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