Wintermute, one of the largest crypto market-making firms, secured funding from Chinese tech giant Tencent. The firm has faced accusations of market manipulation in the past. Market makers aren’t performing black magic—but what exactly do they do?

Hegic’s recent buyback has sparked insider trading suspicions, especially as the protocol profited in the millions. The situation is complicated by the pseudonymity of Hegic’s founder and the unconventional structure of the protocol.

Wintermute promised that everything would be fine with their clients' funds after hack. And, so far, they have kept their promises.

Algorithmic market maker in digital assets – Wintermute – has been hacked. Hackers used a vulnerability in the wallet used for DeFi proprietary trading operations and stole $160M.