Hackers rob $ 150 million from crypto exchange Bitmart in a “massive security breach”


The company said in a statement Monday that hackers robbed cryptocurrency trading platform BitMart millions of dollars during a “massive security breach.”

Bitmart, a provider of real-time trading services such as Bitcoin, Ethereum and Tether trading, said hackers were able to withdraw about $ 150 million in assets.

But the first to notice the breach on Saturday was Peckshield, a blockchain security and data analysis company. Estimated The loss is close to $ 200 million. Data suggest that hackers stole $ 100 million worth of various cryptocurrencies on the Ethereum blockchain and $ 96 million on the Binance smartchain.

one of Bitmart address Currently, Etherscan shows that tens of millions of dollars of token balances are steadily leaking to an address called “Bitmart Hacker”.

“Today we have identified a major security breach associated with one of the ETH hot wallets and one of the BSC hot wallets. At this point, we are still concluding the available methods,” Bitmart said in a statement on Monday. I am saying.

“The affected ETH and BSC hot wallets have a small percentage of assets in BitMart, and all other wallets are safe and intact. We are currently conducting a thorough security review and progress. We will post updates accordingly, “says Bitmart. “At this time, we are temporarily suspending withdrawal until we are notified later.”

The exchange thanked the customer for his “kind understanding and patience in this situation” and stated that the customer would remain transparent while continuing the review.

BitMart CEO Sheldon Xia later Said on twitter On Monday, the company completed an initial security check and identified assets affected by a major hack.

The security breach was primarily due to a hacker stealing the private key that opened two hot wallets, a crypto wallet that allows cryptocurrency owners to easily send and receive tokens, Xia said. He reiterated that BitMart’s other assets are “safe and intact.”

Global digital asset trading platforms use their own funds to compensate users affected by hacking incidents. CEO said.. “We’re also discussing with multiple project teams to see the most rational solutions, such as token swaps, without compromising user assets,” Xia added.

BitMart is currently working on “acquiring security settings” and its “operations” and will announce a schedule to gradually continue deposits and withdrawals, Xia said, saying it will resume on December 7. “I’m confident,” he added.

Xia Question-and-answer session Via Telegram at 8 pm Eastern Standard Time on Monday, we will provide detailed information about security breaches and compensation arrangements, and how the company plans to resume operations after the breach.

According to Peckshield’s analysis, hackers withdrew money from their hot wallets and exchanged stolen assets for Ether. Distributed exchange aggregator 1 inch. The funds were then transferred and deposited via a privacy protocol called Tornado Cash, making it much more difficult to track transactions.

The Epoch Times contacted Bitmart for comment.

A security breach came shortly after a new investigation by Elliptic revealed that investors lost billions of dollars this year due to theft and fraud of criminals targeting decentralized finance (DeFi) products and services. It has occurred.

In a report released last week, London-based companies have more than $ 10 billion users in the event of DeFi products, crypto ecosystems, exchanges, and shadow bank fraud or theft aimed at recreating. Discovered that funds have been stolen Traditional financial services using blockchain technology.

Specifically, DeFi users and investors have lost more than $ 12 billion from theft and fraud, and research shows that these losses are only accelerating, with 2021 losses to date 105. At $ 100 million, up from $ 1.5 billion in 2020.

Catabella Roberts


Katabella Roberts is a reporter currently based in Turkey. She focuses primarily on the United States and covers the news and business of The Epoch Times.