When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns were raised regarding repayment of $189.4 million worth of debt. However, in an exciting turn of events, Wintermute paid off its largest debt due on October 15, which involved a $92 million loan of Tether (USDT) issued by TrueFi.
Following TrueFi’s $92 million loan repayment, Wintermute still owes $75 million to Maple Finance in USD Coin (USDC) and Wrapped Ether (WETH) and $22.4 million to Clearpool, a total of $97, 4 million dollars of debt.
Loan details show that Wintermute Trading had borrowed $92.5 million for a period of 180 days. Libre Blockchain’s James Edwards suspects that “some of the funds from his recent ‘hack’ contributed to the return.” Furthermore, he claimed that BlockSec’s attempt to debunk an inside job conspiracy theory could be a mistake.
Edwards stated that BlockSec had been “totally wrong” in singling out another company for using the “Vanity address” tool, adding that:
“To believe that a market maker who handles billions of dollars (his words) in crypto assets a day would use such a tool to create an address ultimately responsible for managing hundreds of millions of dollars in value is absurd. “
Supporting his claim, Edwards pointed the GitHub URL to the vanity address tool that Wintermute allegedly used to generate his vanity address, as shown below.
On Oct. 10, TrueFi issued a notice of default to Blockwater Technologies for failing to make a scheduled payment related to a $3.4 million Binance USD (BUSD) loan.
Attempting to remediate a $117 million exploit, Mango Markets offered the hacker to keep $47 million as a reward for the bug, while requesting the return of $67 million of the stolen funds.
The majority, 98%, of the Mango Markets community approved of the decision and also supported not taking legal action against the hacker once the $67 million was returned.
However, some of the community members raised objections to the nearly $50 million reward for the bug, which, in the words of one voter, “is ridiculous.”
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