June 23, 2024

Rise To Thrive

Investing guide, latest news & videos!

Wintermute repays $92M TrueFi loan on time despite suffering $160M hack

1 min read
Wintermute repays M TrueFi loan on time despite suffering 0M hack

When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (

Attempting remediation to a $117 million exploit, Mango Markets offered the hacker to keep $47 million as a bug bounty while requesting the return of $67 million of the stolen funds.

A majority, 98%, of the Mango Markets community approved the decision and also supported that no legal action would be taken against the hacker once the $67 million was returned.

However, some of the community members raised objections to the near $50 million bug bounty, which, in one voter’s words, “is ridiculous.”