There Was A Hack On The BitMart Cryptocurrency Exchange
The BitMart cryptocurrency exchange reported that it was hacked by cybercriminals
BitMart hacked by hackers
Representatives of the BitMart crypto exchange reported that it was hacked, and as a result of such a hack, cryptocurrencies totaling at least 150 — 200 million dollars were lost. Previously, the security team estimated that approximately $ 100 million was stolen from the exchange's accounts.
Founder and CEO Sheldon Xia also later confirmed the incident, tweeting that a security breach had been identified and it was linked to one of the ETH hot wallets and one of the BSC wallets. And cybercriminals really managed to steal funds in the amount of approximately $ 150 million.
Then the general director of the exchange Xia announced that at the moment the administration is engaged in a full security check, and today customers were warned that all withdrawal operations were suspended until further notice.
Recall that last night, representatives of the PeckShield company noticed for the first time a huge number of outgoing transfers. As it turned out, several tokens were sent from the BitMart hot wallet. These tokens included a significant number of token memes, such as SHIB, and another half a million dollars in the USDC stablecoin.
It was also noted that the funds were stolen from the Binance Smart Chain blockchain, which may well mean that the number of stolen funds is greater than expected. In addition, it was found out that the funds were forwarded to the Ethereum Tornado Cash mixing service. Such services are used to make it difficult to track the funds withdrawn.
So far, representatives of the exchange have not confirmed the fact that much more funds were stolen than previously stated. This situation proves once again that cybercriminals have higher qualifications than the exchange administration, and the sites do not pay due attention to security issues.
It is unknown whether the exchange will be able to detect the stolen funds. Most often, this cannot be done, because cybercriminals carefully hide their tracks. As long as exchanges do not pay due attention to security protocols, hacks will continue on a regular basis.