Bitcoin trading platform Bitmart hacked and $200 million stolen…Details here


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It’s been months since we didn’t write articles and news about hacking exchanges, we wrote a lot about scams and investor thefts in DeFi and other crypto projects.

A digital trading platform fell victim to hackers hours ago.

Cryptocurrency exchange Bitmart lost nearly $200 million in a settlement of a hot wallet based on the Ethereum and Binance blockchain networks.

Bitmart’s losses were first estimated at $200 million by Peckshield, a blockchain security and data analytics firm, which initially identified a suspicious transfer of nearly $100 million via the Ethereum blockchain.

An additional investigation by the team revealed a simultaneous hack worth $96 million across the Binance BSC blockchain. Peckshield’s statement added:

The hackers have created a mix of trading pairs of more than 20 cryptocurrencies that include altcoins like (BNB), Safemoon, BSC-USD and BPay.

Huge amounts of meme coins such as BabyDoge, Floki and Moonshot were also withdrawn in the hack.

According to Peckshield, the hack was the result of a straightforward case of moving, swapping and washing.

Sheldon Shea, CEO of Bitmart, confirmed via Twitter that the hack represented a widespread security breach for Ethereum wallets and hot wallets based on the Binance blockchain, and explained:

At the moment we are still investigating the methods used.

The hackers managed to withdraw coins worth about $150 million.

In what appears to be an ongoing threat to the crypto system, crypto lending platform Celsius confirmed a $50 million loss in exploiting the “BadgerDAO” decentralized finance protocol, which is the news we discussed in yesterday’s news on Arab Bitcoin:

Celsius Network confirms it lost money in the “BadgerDAO” hack

The first reports of the BadgerDAO hack emerged on December 2, with the protocol officially announcing that it had received several unauthorized withdrawals of user funds on Wednesday.

By taking precautionary measures similar to Bitmart, the Badger team continued to investigate the issue and temporarily suspended all smart contracts in the protocol to avoid any further losses.

Read also:

Again: El Salvador’s president buys more bitcoin in light of the downturn

Find out how much someone paid to be Snoop Dogg’s neighbor in the “Metaverse”

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