October 6, 2022
Articles CyberSecurity Technology


Latest Crypto Heist WinterMute Loses $160 Million

Daily news related to hackers is seen nowadays. If one company had a security breach one day, another company would lose sensitive data the other day. Somewhere it feels like the hackers are the most powerful people in the world today. Recently, there has been a crypto heist which targeted decentralised finance. The hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute

 The attackers’ wallet received USD coin, Binance USD, Tether USD, Wrapped UTH and 66 other crypto currencies.“We are (still) open to treat[ing] this as a white hat, so if you are the attacker – get in touch,” the company’s founder and CEO, Evgeny Gaevoy, said in a tweet. Although the investigations were going on, the CEO said that the hack originated with a service called Profanity.

Crypto Currency

Wintermute acknowledged it did use Profanity, an Ethereum vanity address generation software and Profanity came into light after decentralized exchange (DEX) aggregator 1inch Network disclosed a vulnerability that could be abused to recompute the private wallet keys from addresses created using the utility. Wintermute they took steps to technologically “blacklist” their Profanity accounts. However, due to their own “human error,” as one of the 10 accounts didn’t get blacklisted, it resulted in the $160 million heist.

We are one of the very few crypto-native proprietary trading firms that can actually take this punch,” the CEO says.

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