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

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www.channelnewsasia.com

LONDON: Hackers have stolen digital assets worth around US$160 million from crypto trading firm Wintermute, its CEO tweeted on Tuesday (Sep 20), 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.Gaevoy and Wintermute did not immediately respond to requests for comment.Wintermute calls itself "one of the largest players" in global crypto markets.

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