The owner of this crypto exchange was not kicking back enough to his masters overseas.
So, they sent a really big warning.
Sheldon Xia
Founder & CEO at BitMart
2/4 BitMart will use our own funding to cover the incident and compensate affected users. We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user assets will be harmed.
— Sheldon Xia (@sheldonbitmart) December 6, 2021
Crypto-Exchange BitMart to Pay Users for $200M Theft – Dec 2021
BitMart confirmed it had been drained of ~$150 million in cryptocurrency assets, but a blockchain security firm said it’s closer to $200 million.
Cryptocurrency exchange BitMart has pledged to dig into its own pocket to pay back users affected in a cyberattack that drained it of about $150 million worth of cryptocurrencies, according to a tweet put out by BitMart CEO Sheldon Xia on Monday.
On Saturday, BitMart announced that attackers had stolen a private key and compromised two of the exchange’s hot wallets on the Ethereum (ETH) blockchain and the Binance smart chain (BSC), making off with approximately $150 million worth of assets in a “large-scale security breach.”
However, blockchain-security and data-analytics firm PeckShield – the first to notice the breach on Saturday – estimated that the loss is closer to $200 million. On the day of the breach, PeckShield tweeted out a list of affected assets/amounts on @BinanceChain, noting that the losses were worth about $100 million from the Ethereum wallet and about 96 million on the Binance Chain wallet. – Source
