The hackers have compromised the BitMart cryptocurrency exchange

The platform's CEO confirmed the hack and the loss of more than $150 million

06.12.2021 - 08:45

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What’s new? The BitMart cryptocurrency exchange was attacked on a massive scale on the night of December 4 to 5. In total, the hackers managed to withdraw around $150 million from the platform's hot wallets.

1/3 We have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets. At this moment we are still concluding the possible methods used. The hackers were able to withdraw assets of the value of approximately USD 150 millions.— Sheldon Xia (@sheldonbitmart) December 5, 2021

“We have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets,” aid the exchange's founder Sheldon Xia.

What damage was done? The analytics services PeckShield and RugDoc report more than $200 million in damages. The exchange initially denied the allegations and called the news of the security problem fake. But after receiving numerous proofs, Sheldon Xia admitted the mistake and named the total amount of losses as a result of the hackers' actions.

According to the exchange's official data, the criminals were able to withdraw about $150 million. At present, any operations on the platform are frozen and an investigation is underway.

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