Bitmart Hacked – $150 Million in Cryptocurrency Stolen

Bitmart
Bitmart
(Last Updated On: December 6, 2021)

Hackers stole $150 million worth of cryptocurrency from BitMart.

A crypto trading platform Bitmart revealed more than $150 million in cryptocurrencies stolen as the result of a “large-scale security breach” resulting from the theft of a private key.

Bitmart said, “we have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets today. At this moment we are still concluding the possible methods used. Hackers were able to withdraw assets of the value of approximately 150 million USD.

The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed. We are now conducting a thorough security review and we will post updates as we progress. At this moment we are temporarily suspending withdrawals until further notice. We beg for your kind understanding and patience in this situation.

During this period, we will strive to maintain transparency and we appreciate your support. Thank you very much.”

In addition to PolyNetwork, UpBit, and Bancor. It is the latest in a series of hacks that have targeted leading cryptocurrency platforms.

Sheldon Xia, the CEO of Bitmart, has also acknowledged the hack, tweeting that two hot wallets have been compromised due to a stolen private key. In addition to facilitating crypto transactions, hot wallets function as security measures by linking public and private keys.

We are now doing our best to retrieve security set-ups and our operation. We need time to make proper arrangements and your kind understanding during this period will be highly appreciated, he added in tweet.

Bitmart has also suspended withdrawals until further notice for the time being, according to Sheldon Xia.

Previously Hacked Cryptocurrency platforms

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