Share this article
Crypto Market Maker Wintermute Pays Off $96M TrueFi Debt Weeks After Being Hacked
The TrueFi loan was one of the firm's largest outstanding known debts owed to a DeFi lending platform.
Updated May 9, 2023, 3:59 a.m. Published Oct 14, 2022, 8:45 p.m.
Prominent crypto market maker Wintermute paid off its $96 million debt on decentralized finance (DeFi) protocol TrueFi, TrueFi’s loan dashboard shows, just about three weeks after being hacked for $160 million.
The TrueFi loan was one of the firm's largest outstanding known debts owed to a DeFi lending platform. Wintermute took out a $92 million loan on the TrueFi protocol from its USDT lending pool in April, which was due to mature Oct. 15.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Wintermute repaid the loan with interest Friday, one day before the deadline, transaction data on blockchain data platform Nansen shows.
The loan was uncollateralized, meaning that the borrower didn’t pledge any assets against the loan, securing it only by its financial standing and reputation. Market makers and trading firms often take out these types of loans for trading purposes.
The news comes after Wintermute's DeFi operation suffered a $160 million hack in late September, one of the largest hacks in recent months. At the time, Wintermute’s outstanding DeFi debt amounted to $200 million, CoinDesk reported earlier. Evgeny Gaevoy, the firm’s CEO, said then the company remained solvent after the hack.
Earlier this week, Blockwater, a Korean trading firm, defaulted on a loan on TrueFi after missing payment on a $3.4 million loan. TrueFi said that it determined “a potential court-supervised administrative proceeding would lead to a better outcome” to recover the assets to lenders.
Read more: October Becomes Worst Month for Crypto Hacks
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
From Wall Street to the World Cup: How Football Became Crypto’s Biggest Gateway Drug
As institutions are laying the groundwork for wider crypto adoption from the top down, it’s being met by rising interest from football fans from the ground up.
Top Stories
