BitMart Exchange has confirmed that the security breach involves one of its ETH hot wallets and one of BSC hot wallets.
BitMart Exchange, a cryptocurrency trading platform has suffered a “large-scale” security breach in which hackers have stolen funds worth $150 million, the company said today on Twitter.
With this breach, BitMart has added its name to the list of the latest victim of security breaches aimed at cryptocurrency exchanges and DeFi projects. On December 2nd, BadgerDAO lost $120 million to hackers, while on November 27th, MonoX lost $31 million after hackers exploited a bug in smart contracts.
As for Grand Cayman, Cayman Islands-based BitMart exchange, the company acknowledged the breach in a blog post revealing that although it is unclear how hackers managed to breach its security, it can be confirmed that they stole over $150 million worth of funds.
BitMart is still investigating the incident however limited details shared by the exchange confirmed that the breach involves one of its ETH hot wallets and one of BSC hot wallets.
In its security update, the BitMart exchange explained that,
The affected ETH hot wallet and BSC hot wallet carry a small percentage of assets on BitMart and all of our other wallets are secure and unharmed.
At the time of writing, all withdrawals were suspended until further notice.
Founded in 2018; BitMart has over 5.5 million registered users, and with billions of dollars in daily trading volume the exchange is considered to be one of the top 10 exchanges in the world.
This article will be updated once BitMart Exchange shares additional details. For now, BitMart customers should remain alert and watch out for phishing emails that may hit their inbox mimicking security updates from the company and asking for your personal or financial details.
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