Human Error Caused $160M Hack Of Algorithmic Market Maker Service Wintermute, Says CEO

The theft of about $160 million from algorithmic market maker service Wintermute was caused due to a “human error,” the company’s CEO Evgeny Gaevoy on Wednesday explained the attack vector was associated with Wintermute’s Ethereum (CRYPTO: ETH) vault, used for on-chain decentralized finance (DeFi) trading operations. The culprit offered a 10% bounty Additionally, Wintermute has offered a 10% bounty to the hacker, which would be worth 16 million USDC if all the money were to be recovered.