Wintermute Group loses $160 million in the latest hacking attack against DeFi sector

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The hack against cryptocurrency market maker Wintermute resulted in players in the decentralized finance (DeFi) industry losing about $160 million to the attackers.

“Our DeFi business was hacked and we lost about $160 million; our DeFi and OTC businesses were not affected.” The company’s CEO Evgeny Gaeboi tweeted, adding that Wintelmut’s centralized finance and OTC trading operations were unaffected by the attack.

The executive also said that the company still has approximately $320 million worth of assets in its vaults and remains solvent.

“We are solvent and have twice that amount of assets left,” Gaevoy tweeted.” Of the 90 hacked assets, only two are nominally over $1 million (none are over $2.5 million), so they should not be sold in large quantities. We will be in touch with the two affected teams as soon as possible.”

In response to the hack, Changpeng “CZ” Zhao, chief executive officer of major exchange Binance, declared that Binance’s “security team is available to help and is monitoring” and offered his company’s assistance.

Wintermute states that it is one of the world’s leading global algorithmic market makers in the digital asset industry. The company specializes in centralized and decentralized trading platforms and the creation of liquid markets in OTC trading.

According to an August report by blockchain analytics firm Chainalysis 2022, the incidence of some cryptocurrency-based crimes, such as hacking and money theft, has increased since the beginning of this year. According to the company, as of July 2022, $1.9 billion in cryptocurrency had been stolen in hacking services, compared to just under $1.2 billion stolen in the same period in 2021.

With the hack of the $190 million cross-chain bridge Nomad and the $5 million Solana (SOL) wallet hack occurring in the first week of the month alone, “this trend does not appear to be reversing anytime soon,” the report adds.

》Chinese Version

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Wintermute Group loses $160 million in the latest hacking attack against DeFi sector最先出现在PurpleBlue。

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