Wintermute inside job theory 'not convincing enough' —BlockSec

cointelegraph.com:

Blockchain security firm BlockSec has debunked a conspiracy theory alleging the $160 million Wintermute hack was an inside job, noting that the evidence used for allegations is “not convincing enough."

Earlier this week cyber sleuth James Edwards published a report alleging that the Wintermute smart contract exploit was likely conducted by someone with inside knowledge of the firm, questioning activity relating to the compromised smart contract and two stablecoin transactions in particular.

BlockSec has since gone over the claims in a Wednesday post on Medium, suggesting that the “accusation of the Wintermute project is not as solid as the author claimed,” adding in a Tweet:

In Edward’s original post, he essentially drew attention as to how the hacker was able to enact so much carnage on the exploited Wintermute smart contract that “supposedly had admin access,” despite showing no evidence of having admin capabilities during his analysis.

BlockSec however promptly debunked the claims, as it outlined that “the report just looked up the current state of the account in the mapping variable _setCommonAdmin, however, it is not reasonable because the project may take actions to revoke the admin privilege after knowing the attack.”

Our short analysis of the Accusation of the Wintermute Project: https://t.co/6Lw6FjUrLp@wintermute_t @evgenygaevoy @librehash @WuBlockchain @bantgOur analysis shows that the report is not convincing enough to accuse the Wintermute project.

It pointed to Etherscan transaction details which showed that Wintermute had removed admin privileges once it became aware of the hack.

Edwards also questioned the reasons why Wintermute had $13 million worth of Tether (USDT) transferred from two or their accounts on