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$160 Million Stolen From Wintermute Crypto Exchange

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Wintermute, a cryptocurrency market maker, was hacked for $160 million, but the company remains solvent, according to founder and CEO Evgeny Gaevoy.

Gaevoy stated on Twitter today that the funds were related to its DeFi operations and that its centralized exchange and over-the-counter offerings were unaffected.

“We are solvent with twice over that amount in equity left,” Gaevoy said. “If you have a MM agreement with Wintermute, your funds are safe. There will be a disruption in our services today and potentially for the next few days and will get back to normal after.”

Gaevoy claimed that 90 assets had been stolen. Two tokens were worth between $1 million and $2.5 million, while the rest were worth less than $1 million.

He also stated that the company was willing to treat this as a white hat hack. In this case, the company would allow the hacker to keep some of the money as a bug bounty in exchange for returning the rest.

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Gaevoy confirmed the tweets were accurate via Telegram but had no further comment.

Prominent cryptocurrency figures were quick to respond to the hack. “If it can happen to Wintermute… Stay safe. Stay paranoid,” said Dragonfly Capital managing partner Haseeb Qureshi.

Arthur Cheong, the founder of DeFiance Capital, who experienced his own hack in March, stated, “Sorry to hear that, it must be extremely difficult to go through this now. Hope this will get resolved in the end.”

ZachXBT, a well-known crypto sleuth known for his lengthy tweet threads on wrongdoing in the crypto space, provided information on the address of the hacker where the stolen funds are kept.