- Oct 25, 2021
- Reaction score
Bitmart Hot Wallets Exploited
Bitmart has lost more than $200 million in a hack that involved its hot wallets yesterday. The issue was first identified by Peckshield, a blockchain security and auditing company, that
Bitmart representatives estimated the losses at $150 million initially, but PeckShield did an investigation of the funds taken, saying
The exploiters moved the funds to other platforms quickly, with the intention of mixing the cryptocurrency taken. According to Peckshield, all of the Binance Smart Chain and Ethereum tokens were
This is one of the more devastating attacks on a centralized exchange this year, with much of the risk for exploits having moved to decentralized finance (defi) platforms. As a result of this situation, the exchange has suspended withdrawals for all assets until it conducts an investigation and a new security review of the platform and its vulnerabilities.
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