Did hackers steal $160 million worth of cryptocurrency from Wintermute?

Two former senior staffers debate the decision Hackers have stolen around $160 million worth of cryptocurrency from crypto market maker Wintermute, the company said Tuesday. The incident marks the latest in a growing list of large crypto thefts this year.

Was Wintermute hacked?

Algorithmic market maker service Wintermute suffered a security breach on Tuesday, with hackers making off with around $160 million across 90 assets within the platform's portfolio. In a brief statement published on Twitter, Wintermute founder and CEO Evgeny Gaevoy stated that “we’ve been hacked for about $160M in our defi operations.

Does Wintermute have a $160 million hole in its balance sheet?

Despite the new $160 million hole in its balance sheet, Gaevoy says Wintermute is on sound financial footing, with more than $350 million in equity. “We are one of the very few crypto-native proprietary trading firms that can actually take this punch,” the CEO says.

What is Wintermute?

Wintermute, a crypto market maker focused on DeFi and providing liquidity to decentralized exchanges, raises $20M Series B led by Lightspeed Venture Partners-The Series B will fund a push into Asia and the launch of a derivatives business. - London-based Wintermute …