​Crypto market maker Wintermute was hacked with over $160,000, | Crypto Fight

​Crypto market maker Wintermute was hacked with over $160,000,000 today, September 20. The news was spread around the crypto community within a few hours.

Alex Andryunin, CEO at GotBit, has shared his opinion on the situation that occurred:

"We clearly understand that Wintermute's outdated MM business model led to such a collapse. Crypto executives should consider that providing a large value of tokens to a single market maker's wallet under management is a deep end. Unfortunately, they often use this centralized paradigm on both CEX and DEX exchanges. Why won't Social Engineering allow CEX to be hacked tomorrow and withdraw the other half of Wintermute's funds? The future lies with distributed MMs that DO NOT TAKE control of their funds from their clients.

Web3 has always had an atmosphere of cooperation and mutual assistance!
We at Gotbit are ready to help Wintermute customers to get out of a difficult situation after a series of dumps on DEX and CEX. We're happy to provide 1 month FREE support to everyone damaged from Wintermute."