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Wintermute Pays Off $96 Million USDT TrueFi Loan
Market making firm Wintermute paid off its loan on DeFi lender TrueFi, repaying $96 million USDT to the protocol.
Muskaan T.
6:00 17th Oct, 2022
  • Crypto market maker, Wintermute, paid off a $96 million USDT loan a day before the debt hit point of maturity on decentralized finance (DeFi) lending platform, Truefi.
  • The loan repayment comes weeks after a hack resulted in a $160 million loss via the platform for Wintermute.

Wintermute’s liquidity position remains relatively unchanged and is still very strong, told CEO Evgeny Gaevoy.

The uncollateralized loan was paid off a day before it matured, on October 15, based on TrueFi’s dashboard. Wintermute originally borrowed from the DeFi lender in April, representing one of the largest loans taken out on TrueFi’s platform.

Indeed, Wintermute’s ability to repay its debts was not stifled by a $160 million hack in September. The hack occurred as a result of an access vulnerability associated with a ‘vanity address’ on an administrative account Wintermute used to reduce gas costs, as the platform handles thousands of market making transactions on a daily basis.


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