Wintermute suffers $160M attack, Kraken CEO departs and US bill aims to ban a...
The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link! Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This Week Krakens Jesse Powell will step down as CEO, stay on as board chair After more than a decade heading up crypto exchange Kraken as CEO, Jesse Powell has decided to pass....
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After repayment of TrueFi’s $92 million loan, Wintermute still owes $97.4 million to Maple Finance and Clearpool in loans. When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (USDT) loan issued by TrueFi.After repayment of TrueFi’s $92 million loan, Wintermute still owes $75 million to Maple Finance in USD Coin (USDC) and wrapped ether (WETH) and $22.4 million to....
In the crypto industry, issues of hacks and exploits have become one of the dreaded nightmares. The increasing expansion of the crypto space brews more exploitations as well. Despite the security measures most crypto protocols build around them, the bad actors never cease to scan for available vulnerabilities. On September 20, a source revealed bug […]
James Edwards bases his accusations on what he feels are dubious transactions and smart contract code that doesn’t match the post-mortem analysis. A fresh new crypto conspiracy theory is afoot — this time in relation to last week's $160 million hack on algorithmic market maker Wintermute — which one crypto sleuth alleges was an "inside job."Cointelegraph reported on Sept. 20 that a hacker had exploited a bug in a Wintermute smart contract which enabled them to swipe over 70 different tokens including $61.4 million in USD Coin (USDC), $29.5 million in Tether (USDT) and 671 Wrapped Bitcoin....
The Hong Kong-based group documented its reproduction of the hack on its tech and security oriented blog, seeking insights into Web3’s attack surface spectrum. Amber Group has reproduced the recent Wintermute hack, the Hong Kong-based crypto finance service provider announced on its blog. The process was fast and simple, and used hardware easily accessible to consumers. Wintermute lost over $160 million in a private key hack on Sept. 20.Reproducing the hack can help “build a better understanding of the attack surface spectrum across Web3,” Amber Group said. It was only hours after the hack....
The OUSD stablecoin issuer, Origin Protocol is the latest Defi protocol to fall victim to a flash loan attack. The attack, which occurred in the early hours of Tuesday, on November 17, resulted in the disappearance of tokens worth millions of dollars. Confirming the attack, one of the project’s leaders say they are now working with exchanges in order to identify the attacker, as well as to freeze the tokens before they are liquidated. Funds Located The Origin Protocol attack follows a similar incident at Value Defi on November 14 where the criminals stole $6 million worth of tokens.....