Wintermute, a prominent crypto market maker, paid off its $96 million debt on TrueFi’s decentralized finance (DeFi) system, according to TrueFi’s loan dashboard, just about three weeks after being hacked for $160 million.
The TrueFi loan was one of the company’s largest known outstanding obligations to a DeFi lending platform. In April, Wintermute borrowed $92 million from its USDT lending pool for the TrueFi protocol, which was set to mature on October 15.
According to transaction data on the blockchain data platform Nansen, Wintermute returned the debt with interest on Friday, one day before the deadline.
The loan was uncollateralized, which means that the borrower did not pledge any assets against it, instead relying only on its financial status and reputation to secure it. These loans are frequently taken out by market makers and trading businesses for trading activities.
Wintermute’s DeFi business was hacked for $160 million in late September, one of the greatest attacks in recent months. Wintermute’s outstanding DeFi debt was $200 million at the time. The firm’s CEO, Evgeny Gaevoy, stated at the time that the company was still solvent following the attack.
Blockwater, a Korean trading business, defaulted on a TrueFi loan earlier this week after failing to make a $3.4 million payment. TrueFi assessed that a prospective court-supervised administrative procedure might result in a better outcome in order to recover the assets from lenders.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
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DeFi
Wintermute Paid $96 Million Debt For TrueFi
Wintermute, a prominent crypto market maker, paid off its $96 million debt on TrueFi’s decentralized finance (DeFi) system, according to TrueFi’s loan dashboard, just about three weeks after being hacked for $160 million.
The TrueFi loan was one of the company’s largest known outstanding obligations to a DeFi lending platform. In April, Wintermute borrowed $92 million from its USDT lending pool for the TrueFi protocol, which was set to mature on October 15.
According to transaction data on the blockchain data platform Nansen, Wintermute returned the debt with interest on Friday, one day before the deadline.
The loan was uncollateralized, which means that the borrower did not pledge any assets against it, instead relying only on its financial status and reputation to secure it. These loans are frequently taken out by market makers and trading businesses for trading activities.
Wintermute’s DeFi business was hacked for $160 million in late September, one of the greatest attacks in recent months. Wintermute’s outstanding DeFi debt was $200 million at the time. The firm’s CEO, Evgeny Gaevoy, stated at the time that the company was still solvent following the attack.
Blockwater, a Korean trading business, defaulted on a TrueFi loan earlier this week after failing to make a $3.4 million payment. TrueFi assessed that a prospective court-supervised administrative procedure might result in a better outcome in order to recover the assets from lenders.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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