$160 Million Mysteriously Stolen

The CEO of the London-based Wintermute crypto trading firm revealed on Twitter that hackers stole around $160 million in digital assets from the company in the latest cybertheft to hit the crypto sector.

According to CEO Evgeny Gaevoy, the theft targeted Wintermute’s decentralized finance operations.

Decentralized finance platforms and software aim to provide crypto-based financial services without using traditional gatekeepers like banks. In recent years, decentralized finance platforms have been targeted by cyber heists. And since the sector has few regulations, victims of the thefts rarely have any recourse.

Wintermute provides liquidity across major crypto exchanges and trading platforms. According to Gaevoy, despite the hack, the firm remains solvent.

The firm bills itself as “one of the largest players” in the global crypto market, saying it manages “hundreds of millions” in assets, and trades more than $5 billion a day.

In a tweet, Gaevoy said about 80 assets were hacked and Wintermute’s services would be briefly disrupted, possibly for several days. He assured lenders that the company remained solvent, but added that any lender who prefers recalling a loan would be accommodated.

Over the weekend, in a hack similar to Wintermute’s, cyber-thieves managed to make off with nearly a million dollars in digital assets from Etherscan.

On Sunday, hackers using a vanity address generator called Profanity stole about $950,000 worth of digital assets from Etherscan before moving the funds to the US government-sanctioned crypto mixer Tornado Cash.