Major crypto trader Wintermute hit by $160 million hack, CEO says

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LONDON, Sept 20 (Reuters) — 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 decen­tralised finance oper­a­tions, Evge­ny Gaevoy said in a tweet. The firm, which pro­vides liq­uid­i­ty across major cryp­to exchanges and trad­ing plat­forms, remains sol­vent after the hack, he added.

Decen­tralised 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.

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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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Report­ing by Tom Wilson
Edit­ing by Alun John, Tom­my Reg­giori Wilkes and Louise Heavens

Our Stan­dards: The Thom­son Reuters Trust Principles.

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