Algorithmic market maker Wintermute recently fell victim to a hack that cost it $160 million. The representatives of the project say that they are ready to negotiate with the pirate.
Eugene Gevoy, CEO and founder of Wintermute, an algorithmic market maker, reported on his Twitter account that his platform had been hacked on Tuesday morning. The person(s) behind the hack allegedly stole $160 million from nearly 90 assets.
“We were hacked to the tune of about $160 million in our def operations. Cefi and OTC transactions will not be affected. »
We can read it Tweet
Nevertheless, Gevoi explained That the platform is solvent and that all those (creditors) who want to recall the loan are free to do so. He claimed:
“If you’re a Wintermute lender, we’re still creditworthy, but if you’re more comfortable paying back the loan, we’re fine with that. »
There is more announced that he would be ready to consider the operator a “white hat” if the latter would return the stolen funds and even give him a bonus in return.
What exactly happened to Wintermute?
According to several investigators, the Wintermute hack is the result of a flaw in Profanity, a tool that generates configurable addresses on Ethereum. Thus, the hacker in question would use this tool to regenerate a private address key and then access Wintermute smart contract wallets.
Indeed, Etherscan address analysis shows that the latter did indeed generate a smart contract address this Tuesday, September 20th at 5:11 am.
According to hacking expert and detective ZachXBT, the attacker transferred $114.3 million to Curve Protocol’s liquidity pool. According to data provided by Etherscan on the hacker’s addresses, he has already made more than forty transactions.
This attack is among the top 10 biggest acts of DeFi piracy
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