Wintermute hacked of $160M, SEC claim jurisdiction over Ethereum transactions

The biggest news in the cryptoverse for Sept 20 includes Wintermute losing $160 million to DeFi operation hack, Ethereum developer confirming that Shanghai upgrade will not unlock staked ETH, Experts arguing that SEC cannot claim jurisdiction over Ethereum transactions, MicroStrategy buys an additional 301 Bitcoin for $6 million.

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Wintermute reveals $160M hack in DeFi operations

A hacker attacked about 90 crypto assets belonging to leading market maker Wintermute. The firm’s DeFi operation lost over $160 million to the incident.

Wintermute’s CEO Evgeny Gaevoy said that market-making funds are safe, as the CeFi and OTC operations were not affected by the hack.

Ethereum vanity address exploit may be cause of Wintermute hack

Blockchain security firm Certik confirmed claims by the Ethereum community that a vanity address exploit could be the root cause of the Wintermute attack.

#CertiKSkynetAlert 🚨

Here is what we know so far from the @wintermute_t exploit 👇

We have recorded that $162,509,665 have been stolen.

The exploit is likely due to a brute force attack on Profanity wallet compromising a private key.

Stay vigilant! pic.twitter.com/zVRd3e5TbS

— CertiK Alert (@CertiKAlert) September 20, 2022

1nch contributor k06a noted that since Wintermute’s address had 7 leading 0’s, it may have taken only 50 days to brute force hack the address using a 1,000 GPU mining rig.

Ethereum developer confirms Shanghai upgrade will not unlock staked tokens

In a chat with CryptoSlate, Ethereum developer Micah Zoltu affirmed that the Shanghai upgrade will not enable the withdrawal of staked ETH tokens, but will focus on reducing gas fee.

Zoltu added that there is no specified timeline for enabling withdrawal, as Ethereum core devs are yet to discuss the modalities to unlock staked ETH.

Experts argue SEC cannot claim jurisdiction over Ethereum transactions

Etherenodes data shows that approximately 43% of Ethereum validator nodes operate from the U.S. As a result,…