Winter's theory of work does not believe enough blocks within the work theory

The theory isn't convincing enough to incriminate the Wintermute project, Bloksec wrote, because it highlighted that Wintermute's actions during the hack were circumstantial.

Blockchain security firm BlockSec has refuted a conspiracy theory alleging the $160 million Wintermute hack was an inside job, citing that the evidence used to make the allegations is not credible enough.

Earlier this week cyber sleuth James Edwards released a report alleging that the Wintermute smart contract exploit was likely orchestrated by the firm's insider knowledge, questioning the activity of compromised smart contracts and two stablecoin transactions in particular.