Crypto-Exchange BitMart to Pay Users for $200M Theft

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.

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

“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.” —@sheldonbitmart

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

Read More: https://threatpost.com/crypto-exchange-bitmart-theft/176805/