Cryptocurrencies

Major crypto trader Wintermute hit by $160 million hack: CEO

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Hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute, its CEO tweeted on Tuesday, the latest heist to hit a sector long plagued by cybercrime.

The theft targeted London-based Wintermute’s decentralized finance operations, Evgeny Gaevoy said in a tweet.

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The firm, which provides liquidity across major crypto exchanges and trading platforms, remains solvent after the hack, he added.

Decentralized finance platforms and software, which aim to provide crypto-based financial services without traditional gatekeepers such as banks, have been targeted by numerous heists in recent years.

The sector is little-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 largest players” in global crypto markets. It says it manages “hundreds of millions” in assets and trades more than $5 billion a day.

Gaevoy said on Twitter “there will be a disruption in our services today and potentially for next few days,” adding that some 90 assets were hacked.

“If you are a lender to Wintermute, again, we are solvent, but if you feel safer to recall the loan, we can absolutely do that,” Gaevoy said.

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