Major Crypto Trader Wintermute Loses $160 Million in Hack, Says CEO

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Wintermute calls itself “one of the biggest players” in the global crypto markets.

London:

Hackers have stolen digital assets worth about $160 million from crypto trading firm Wintermute, the CEO tweeted Tuesday, the latest heist in an industry long ravaged by cybercrime.

The theft targeted Wintermute’s decentralized financial operations in London, Evgeny Gaevoy said in a tweet. The company, which provides liquidity on major crypto exchanges and trading platforms, remains solvent after the hack, he added.

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Decentralized financial platforms and software, which aim to provide crypto-based financial services without traditional gatekeepers such as banks, have been the target of numerous heists in recent years. The sector is poorly regulated and victims of crime rarely have recourse.

Gaevoy and Wintermute did not immediately respond to requests for comment.

Wintermute calls itself “one of the biggest players” in the global crypto markets. It says it manages “hundreds of millions” in assets and trades more than $5 billion a day.

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Gaevoy said on Twitter that “there will be an outage in our services today and possibly in the coming days,” adding that about 90 assets have been hacked.

“If you lend to Wintermute, we’ll be solvent again, but if you feel safer calling the loan back, we can absolutely do that,” Gaevoy said.

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