A total of $160 million has been reported stolen from the Wintermute DeFi operation, the CEO Evgeny Gaevoy took to Twitter to assure people that the company is solvent more than twice the amount of the hack.
At Glance
● Wintermute is an algorithm market maker, the company is registered in the UK working with digital assets, most commonly cryptocurrencies.
● As of September 20, 2022, Wintermute was reported hacked for $160 million in 70 different cryptocurrencies.
● The exploit has however been addressed to be under investigation as the CEO briefs the audience on the solvency of the company.
● Additionally, The CEO expressed that the company is ready to treat this as a whitehat, requesting the hacker gets in touch.
Following a public tweet from Evgeny Gaevoy, CEO of Wintermute, the company was exploited in their DeFi operations, leading to a round figure reported by the time of writing to be $160 million.
Evgeny has noted that the hack did not affect the OTC and Cefi platform, further letting investors and lenders know that their funds are safe. As an additional assurance, Evgeny expressed that the company is solvent for twice the amount stolen, urging lenders to reach out to recall loans if needed.
Evgeny stated that funds stolen are not in huge piles when looking at the individual numbers, adding that they will not be an event of a market crash as only two of the exploited asset accounts for a value of $1 million with none over $2.5 million.
During our cause of coverage, we found $2,415,385.79 worth of Somnium Space cubes(CUBE) and $1,167,948.91 of Maple Token(MPL) exploited as the only floating price assets with a total value of over $1 million. All other assets over this value were stablecoins, thus his comment.
We found $61,350,986 in USD Coin (USDC), $29,461,533 Tether (USDT), 671.24712359 Wrapped Bitcoin (wBTC) worth about $13 million, as the most exploited assets with DAI and BUSD next in line.
Evgeny expressed the company’s readiness to treat this as a whitehat, details on this are yet to be collected and will be published if found.
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