Market making firm Wintermute paid off its loan on DeFi lender TrueFi, repaying $96 million USDT to the protocol.
Wintermute’s liquidity position remains relatively unchanged and is still very strong, CEO Evgeny Gaevoy told The Block.
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. CoinDesk first reported the news.
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.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
Jeremy Nation is a Senior Reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.
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