Bitmart Exchange Hacked: $200 Million Allegedly Stolen
5 Dec, 2021•2 min read•Regulation
Bitmart has confirmed that it was hacked, with early estimations indicating that the total amount swiped is around $200 million in various cryptocurrencies. Sheldon Xia, founder and CEO of the exchange, asserted that the company has temporarily suspended withdrawals.Users on Twitter started to complain about a possible security breach against Bitmart earlier on December 5th before the company confirmed the news hours later.The statement described the event as a “large-scale security breach” related to one of the hot Ethereum (ETH) wallets and one of the Binance Smart Chain (BSC) hot wallets.The company promised that the funds contained in those two addresses are a “small percentage of assets on Bitmart” and all other wallets are “secure and unharmed.”Initially, Bitmart noted that the hackers were able to swipe around $150 million worth of several cryptocurrencies.However, another report from the blockchain security and data analytics resource PeckShield, showed that the amount is actually around $200 million – $100 million on Ethereum and $96 million on BSC. The company also provided a list of the affected assets.
Although Bitmart ultimately confirmed the hack and Sheldon Xia said all withdrawals are temporarily suspended, this was not the case initially.PeckShield showed several chats on Telegram, in which an admin from Bitmart refuted the allegations that the exchange was hacked.Source
Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on @BinanceChain pic.twitter.com/cXXApDFtd7— PeckShield Inc. (@peckshield) December 5, 2021