- Wintermute borrowed $92.5 million for a duration of 180 days.
- Now Wintermute owes $75M to Maple Finance and Clearpool.
Concerns about paying back $189.4 million in debt arose when crypto market maker Wintermute lost $160 million in a hack. Excitingly, on Oct. 15, Wintermute repaid a $92 million Tether (USDT) loan made to TrueFi, its highest debt.
Wintermute has $97.4 million in debt after paying back TrueFi’s $92 million loan, with $75 million owed to Maple Finance in USD Coin (USDC) and wrapped ether (WETH), and $22.4 million owed to Clearpool.
Vanity Address Scrutiny
The loan documents reveal that Wintermute borrowed $92.5 million for a duration of 180 days. It has been speculated by Libre Blockchain’s James Edwards that part of the proceeds from their recent ‘hack’ went to the repayment. He also said that BlockSec’s effort to disprove the inside job conspiracy notion was doomed to fail.
Previously, Edwards said that BlockSec was “dead wrong” in calling out another company for employing the “Vanity address” tool.
Edward added:
“To believe that a market maker handling billions of dollars (their words) worth of crypto assets per day would use such a tool to create an address ultimately responsible for managing hundreds of millions of dollars in value is preposterous.”
Edwards claims that Wintermute utilized the vanity address generator hosted on GitHub, and he provides a URL as evidence. Moreover, Blockwater Technologies missed a payment on its $3.4 million Binance USD loan on October 10, prompting a default notice from TrueFi.
On the other hand, Mango Markets attempted to fix a $117 million vulnerability by offering the hacker $47 million as a bug reward and asking for the return of $67 million of the stolen money.
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