Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit

Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit


Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.

The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company, who initially identified a transfer of roughly $100 million over the Ethereum blockchain.

Further investigation from the team revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves:

The hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay. Sizable amounts of meme coins such as BabyDoge, Floki and Moonshot were also compromised in the hack. 

okex

According to Peckshield, the hack was a straightforward case of transfer-out, swap, and wash:

Bitmart CEO Sheldon Xia later confirmed the hack over Twitter as a “large-scale security breach” on ETH and 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 million.”

Related: Crypto lending firm Celsius reportedly affected in BadgerDAO exploit

In what seems like an ongoing threat to the crypto ecosystem, cryptocurrency lending platform Celsius confirmed a loss of $50 million in the exploit of decentralized finance (DeFi) protocol BadgerDAO.

The first reports on BadgerDAO’s security breach surfaced on Dec. 02, with the protocol officially announcing that it received multiple exports of unauthorized withdrawals of user funds on Wednesday.

Taking preventive measures similar to Bitmart, the Badger team continued investigating the issue and paused all smart contracts on the protocol to avoid any further losses.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currency to display

Pin It on Pinterest

Ico-Investor
BTCC
Ico-Investor
Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit
okex
Binance
Bitcoin Mining vs. AI Hosting: The Unexpected Parallels Unveiled
Bitcoin, Ethereum to See $1.62 Billion Options Expire: What It Means for Prices
A Wrapped Bitcoin Token Interoperable With Ethereum and OP Mainnet
Understanding Bitcoin Treasury Strategies: Insights From Public Bitcoin Miners Like MARA
Bitcoin (BTC) Rally Could Stretch to Eight Months
BlackRock's BTC ETF Filing Could 'Democratize Crypto,' CEO Larry Fink Says
Coinmama
Changelly
Brutal 20% Ethereum price sell-off is not over, but is there a silver lining for ETH?
Riot Platform’s Power Strategy Boosts Credits Amid Production Decline
Crypto Advocacy Groups Urge Dismissal of Case Against Bitcoin Mixer Samourai
Polymarket Users Debate Ukrainian President Zelenskyy’s Outfit
Dogwifhat (WIF) jumps 60% as meme coin market rebounds
Brutal 20% Ethereum price sell-off is not over, but is there a silver lining for ETH?
Riot Platform’s Power Strategy Boosts Credits Amid Production Decline
Crypto Advocacy Groups Urge Dismissal of Case Against Bitcoin Mixer Samourai
Polymarket Users Debate Ukrainian President Zelenskyy’s Outfit