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Wintermute Hacked, Loses $160 Million!

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 20, 2022

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Wintermute, a UK-based algorithmic crypto market maker, recently got hacked for $160 million and became a victim of decentralized finance (DeFi) hack. 

The CEO of Wintermute, Evgeny Gaevoy, announced this recently through his tweet. As per the CEO, they are “open” and will treat the hack as a white hat hack as they are common in crypto and will get in touch with the attacker. The hackers drained funds from its DeFi operations without affecting the company’s over-the-counter and centralized finance operations. The CEO stressed that the funds of the users are safe as still they have double the stolen amount of equity left with them. According to Etherscan, over 70 different tokens have been transferred to Wintermute exploiters. 

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