Ambergroup tweeted on September 28 that they have successfully recreated the most recent Wintermute hack. They added that they created the private keys on a MacBook M1 (16GB memory) in less than two days after figuring out the algorithm to build the vulnerability. It is about the multi-million hack that happened days before.
On September 20, the London-based Wintermute, which transacts billions of dollars daily between numerous crypto platforms, became the most recent organization to experience a series of hacks throughout the decentralized finance ecosystem.
After the incident, James Edwards, who uses the Twitter handle librehash, did some additional research and issued a study disputing this assertion. According to his report, the entire “hack” scheme was an internal conspiracy.
In a released article, he stated that the prevalent hypothesis holds that a vanity address generation tool’s weakness allowed an EOA, which was the source of the breached Wintermute wallet, to get compromised.
After examining the smart contract and how it functions, he refuted that notion, declaring that the expertise needed to execute the hack excluded the prospect of a foreign or casual hacker.
According to him, the smart contract under discussion has “no uploaded, validated code,” which poses a challenge for outside parties to validate the “foreign hacker notion” and increases concerns about transparency. He concluded that it was evident from the pertinent EOA operations that the hacker was an associate of the platform.
Additionally, he noted that funds were transferred to the contract the hacker is said to control just seconds after the hack. He said that the team’s decision to permit withdrawals from the hacked smart contract was unreasonable unless it was a conspiracy.
Wintermute was contacted for a statement on the situation, and the company adamantly denies the accusations.
Nevertheless, Wintermute mentioned that aside from their Decentralised finance smart contract, none of the platform’s interior systems was impacted by the breach.
