A theft of cryptocurrencies worth 160 million dollars puts this market in check. Is it safe enough to invest in it?
The cryptocurrency market does not stop falling in terms of price and capitalization. Since November 2021, a downward trend has been established that has been fueled by events such as the invasion of Ukraine by Russia and, of course, the inflation that has followed shortly after. This has not helped to improve the Confidence eroded due to the pandemic, which has caused that the market is not in a good moment for the culture of the bulls. Cryptocurrencies, at best, are down more than 70%.
Loss of confidence in the sector or unrepeatable buying opportunity? We are in a particularly delicate moment. Bitcoin has fallen again to levels not seen since June and, on the other hand, news such as those introduced in Ethereum they have not served to catapult these digital values. Be that as it may, there are other reasons that are not helping to improve the situation. Among them, we must add the fall of important platforms dedicated to trading. A new example has just had an impact on double-digit falls.
This time, it was Wintermute’s turn. This platform just lose a total of 160 million dollars at a stroke This evaporation of cryptocurrencies has occurred at a particularly delicate moment, since the security of the platforms should have been deepened after seeing what happened on previous occasions. Let’s see, in more detail, what has happened this time.
A new hacker attack causes millionaire losses in Wintermute
The first thing to mention is the importance of Wintermute in the market of cryptocurrencies. This company provides liquidity to crypto exchanges and decentralized finance (DeFi) platforms, according to information from Gizmodo. It is, therefore, one of the most outstanding companies in the sector. Now, how has the fraud and theft of such a volume of money invested in digital securities been known? Here are the keys.
The company’s greatest exponent, Evgeny Gaevoy, warned on Twitter of what had happened very shortly before. Although this incident was not going to have an impact on transactions and other functions of cryptocurrencies in general, stocks reacted strongly with declines pronounced. After all, taking into account that we are facing a completely unregulated market, these types of events usually imply a loss of confidence on the part of users.
Apparently, the assets that have been the object of theft have been Tether, USDcoin, Wrapped ETH and Dai stablecoin. It is unknown, however, how this illicit action occurred. Such has been the importance of this fact that throughout yesterday there were outages in the operation of its platform, something that is expected to be repeated again due to actions taken to protect the accounts of its users.
We will have to wait a few days to know, if possible, how did the robbery take place and what are the measures that are carried out to correct the situation and avoid new possible actions of these characteristics.