Wintermute CEO Evengy Gaevoy has provided an update on the $160 million Ethereum hack that took place. and claimed to be “Human error”
Gaevoy posted on Twitter explaining that the attack involved Wintermute’s Ethereum vault used for on-chain decentralized financial (DeFi) trading operations, emphasizing that the wallet was separate from centralized financial operations (CeFi). and Over the Counter (OTC).
and also confirmed that No Wintermute CeFi or OTC wallets have been affected or compromised. and there is no use of inside information or any of the parties’ information.
The attack was probably caused by Wintermute’s DeFi vault “Profanity-type exploit” Gaevoy said that Profanity, used for generating keys on wallet addresses, was compromised. According to the published post
Wintermute suffered due to But even after suffering financial losses, Gaevoy said Wintermute would not lay off employees or change any strategy or raise additional funding. or stop DeFi operations.
Gaevoy accepts the fact that On-chain trading is inherently risky that Wintermute is aware of, and most have no protections such as 2FA to prevent key generation or the ability to use multisigs due to the nature of high-frequency trading (HFT).
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