A mistake by crypto market maker Wintermute has resulted in the loss of 20m Optimism (OP) tokens currently worth USD 17m.
In preparation for the OP token launch, Wintermute was to receive "a temporary grant" of OP 20m for liquidity provisioning services. After successfully sending two test transactions, the Optimism team sent the full amount of tokens.
However, the crypto market maker had mistakenly provided a multi-signature Ethereum (ETH) address that had not yet been deployed on Optimism. Therefore, it was not able to access the tokens, according to a summary of events from the Optimism team.
Wintermute started "a recovery operation with the goal to deploy the [layer 1] multisig contract to the same address on [layer 2]," but it was too late as a bad actor had already taken control of the funds.
“An attacker was able to deploy the multisig to L2 with different initialization parameters before the recovery operation was completed and took control of the 20 million OP tokens,” the...
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