Wintermute inside job theory ‘not convincing enough’ —BlockSec

Blockchain safety agency BlockSec has debunked a conspiracy concept alleging the $160 million Wintermute hack was an inside job, noting that the proof used for allegations is “not convincing sufficient.”

Earlier this week cyber sleuth James Edwards revealed a report alleging that the Wintermute sensible contract exploit was possible performed by somebody with inside data of the agency, questioning exercise regarding the compromised sensible contract and two stablecoin transactions particularly.

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BlockSec has since gone over the claims in a Wednesday publish on Medium, suggesting that the “accusation of the Wintermute challenge just isn’t as strong because the writer claimed,” including in a Tweet:

“Our evaluation exhibits that the report just isn’t convincing sufficient to accuse the Wintermute challenge.

In Edward’s unique publish, he primarily drew consideration as to how the hacker was capable of enact a lot carnage on the exploited Wintermute sensible contract that “supposedly had admin entry,” regardless of displaying no proof of getting admin capabilities throughout his evaluation.

BlockSec nevertheless promptly debunked the claims, because it outlined that “the report simply regarded up the present state of the account within the mapping variable _setCommonAdmin, nevertheless, it isn’t affordable as a result of the challenge might take actions to revoke the admin privilege after figuring out the assault.”

Our quick evaluation of the Accusation of the Wintermute Mission: https://t.co/6Lw6FjUrLp@wintermute_t @evgenygaevoy @librehash @WuBlockchain @bantg

Our evaluation exhibits that the report just isn’t convincing sufficient to accuse the Wintermute challenge.

— BlockSec (@BlockSecTeam) September 27, 2022

It pointed to Etherscan transaction particulars which confirmed that Wintermute had eliminated admin privileges as soon as it turned conscious of the hack.

Edwards additionally questioned the the explanation why Wintermute had $13 million value of Tether (USDT) transferred from two or their accounts on two completely different exchanges to their sensible contract simply two minutes after it was compromised, suggesting it was foul play.

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Addressing this, BlockSec argued that this isn’t as suspicious because it seems, because the hacker might have been monitoring Wintermute transferring transactions, probably through bots, to swoop in there.

“Nonetheless, it isn’t as believable because it claimed. The attacker might monitor the exercise of the transferring transactions to attain the aim. It isn’t fairly bizarre from a technical standpoint. For instance, there exist some on-chain MEV-bots which repeatedly monitor the transactions to make earnings.”

As beforehand acknowledged in Cointelegraph’s first article on the matter, Wintermute has strongly refuted Edwards claims, and has asserted that his methodology is filled with inaccuracies.