oncerns about the repayment of debt totaling $189.4 million arose after Wintermute, a bitcoin market maker, lost $160 million as a result of a cyberattack. Unexpectedly, Wintermute wiped off its largest debt, a $92 million Tether (USDT) loan from TrueFi that was due on October 15.

After paying back TrueFi's $92 million loan, Wintermute still has $97.4 million in debt to Clearpool, $75 million to Maple Finance in wrapped ether (wETH), and $22.4 million to USD Coin (USDC).

Photo credits to its rightful owner

Wintermute Trading had borrowed $92.5 million for a term of 180 days, according to the loan's specifics. Libre Blockchain's James Edwards speculated that "part of the monies from their recent 'hack' contributed to the payback," and asserted that BlockSec's attempt to refute the inside job notion may have failed.

Edwards claimed that BlockSec had been "dead incorrect" in the past when it criticized another company for utilizing the "Vanity address" tool, and he added:

“To believe that a market maker handling billions of dollars (their words) worth of crypto assets per day would use such a tool to create an address ultimately responsible for managing hundreds of millions of dollars in value is preposterous.”

Edwards mentioned the GitHub URL for the vanity address generator Wintermute allegedly used to create their vanity address as evidence in support of his assertion, which is displayed below.

Photo credits to its rightful owner

Blockwater Technologies received a default notice from TrueFi on October 10 for failing to make a payment due on a loan of $3.4 million in Binance USD (BUSD).

Mango Markets awarded the hacker $47 million as a bug bounty in an effort to fix a $117 million exploit but demanded the return of the remaining $67 million in stolen money.

98% of the Mango Markets community supported the choice and agreed that once the $67 million was restored, no legal action should be pursued against the hacker.

However, several members voiced disapproval of the nearly $50 million bug prize, calling it "crazy" in the words of one voter.

Oct 16, 2022
Crypto News

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