Prominent cryptocurrency providing liquidity to the stock markets wintermutewas hacked yesterday. The leading names of the crypto industry made statements about the situation of Wintermute.
After Wintermute CEO Evgeny Gaevoy announced the incident on Twitter, the first comment came from Changpeng Zhao (CZ), the boss of Binance exchange.
This looks like Profanity related. If you used vanity addresses in the past, you might want to move those funds to a different wallet, or @binance for safe keeping. https://t.co/JBGI2VN4Ze
— CZ 🔶 Binance (@cz_binance) September 20, 2022
Quoting Gaevoy’s tweet, CZ said:
“The Wintermute case may be related to Profanity (Ethereum address generation tool). If you have used private addresses in the past, you can move your cryptocurrencies to your own cold wallet.”
Zhao recommended his own exchange, Binance, as well as cold wallets as a secure address.
Mudit Gupta, one of the information security officers of the Polygon network, made a statement supporting CZ’s prediction.
Gupta shared a detailed review of the Wintermute case in a blog post and summarized the situation on his Twitter account.
Wintermute was hacked for ~160m a few hours ago.
I took a quick look and my best guess is that it was a hot wallet compromise due to the Profanity bug that was publicly disclosed a few weeks ago. pic.twitter.com/FQoUYYajUR
— Mudit Gupta (@Mudit__Gupta) September 20, 2022
Gupta, in his research, concluded that the existence of the enterprise was endangered due to a bug experienced in Profanity weeks ago. According to the blog post, Wintermute executives realized the situation during the cyberattack, but their efforts fell short.
How Much Was Wintermute Damaged?
crypto exchanges and DeFi Wintermute, which provides liquidity services to its platforms, suffered a major cyber attack the other day. According to the platform’s statements, cyber thieves stole $160 million worth of cryptocurrencies. The thieves were found to have stolen more than 90 types of altcoins, each worth up to $2.5 million.
The Wintermute case went down in crypto history as the fifth largest DeFi hack.
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