fbpx
8.3 C
London
Thursday, December 1, 2022

The Wintermute Hacking Of A Huge $160M Was An Inside Job: Says Cyber Sleuth

James Edwards based his allegations on trades that he believes to be questionable and seller to the buyer code that doesn’t line up with the post-mortem investigation.

One cryptocurrency sleuth claims that the $160mn attack on algorithm fund manager Wintermute known as wintermute hack, this past week was a “internal job,” that has sparked a brand-new cryptocurrency conspiracy theory.

- Advertisement -

On September 20, Reports emerged that a hackers had taken advantage of a flaw in a Wintermute hack contract to steal around seventy different tokens, notably $61.4 m in USD Coin (USDC), $29.5 m in Tether (USDT), and 671 Wrapping Bitcoin (wBTC), which was then valued about $13 m.

The author described as Librehash said in a Monday Medium post that perhaps the hack’s interaction with and eventual exploitation of Wintermute’s contracts shows that it was carried out by an inside group.

This Wintermute Hacking Recently Taken Place Can Very Well Be An Inside Job: Says Cyber Sleuth:

After manually deactivating the cryptographic protocol code, Edwards conducted a more thorough study and claimed that the code did not correspond to the events that have been credited to having caused the attack.

- Advertisement -

In order to rectify a corrupted contract, Wintermute reportedly moved upwards of $13 ,000,000 in USDT from two distinct exchanges, according to the previous transactions noted by Edwards in Etherscan.

However, his idea has not yet been supported by several other blockchain security practitioners, despite some suggestions that inside job would have been a potential after the incident last week.

On September 21, Wintermute provided an update just on incident through Twitter and stated that although it was “extremely regrettable and unpleasant,” the rest of their company remained unaffected, and it will keep supporting its partners.

Wintermute has been contacted by Cointelegraph for comments just on situation on the allegation of wintermute hack being an inside job, but at the date of this writing, no answer has been given.

- Advertisement -

Follow Us

16,985FansLike
4,865FollowersFollow
1,643FollowersFollow

Latest news