Bitmart is hacked after violating the exchange’s Binance Smart Chain and Ethereum wallets for $ 200 million

Bitmart cryptocurrency exchange lost nearly $ 200 million to an online wallet compromise hosted on Ethereum and Binance Smart Chain blockchains.

Bitmart’s $ 200 million hack was first revealed by Peckshield, a blockchain data analytics and security firm that initially identified a transfer of approximately $ 100 million on the Ethereum blockchain.

The team’s subsequent investigation revealed a simultaneous hack of $ 96 million into the reserves of the BSC crypto exchange.:

Bitmart is hacked after violating the exchange’s Binance Smart Chain and Ethereum wallets for $ 200 million
Bitmart is hacked after violating the exchange’s Binance Smart Chain and Ethereum wallets for $ 200 million

The hackers took a mix of more than 20 tokens, including altcoins like Binance Coin (BNB), Safemoon, BSC-USD and BNBBPay (BPay). Considerable amounts of meme coins such as BabyDoge, Floki and Moonshot were also pawned.

Corresponding Peckshield, the hack was a direct case of transfers, exchanges, and money laundering:

Transfer of stolen tokens at Bitmart. Source: PeckShield

Bitmart CEO Sheldon Xia later confirmed the hack via Twitter as a “large-scale security breach” in ETH and BSC hot wallets:

“At this point, we are still finalizing the possible methods. Hackers have removed approximately $ 150 million worth of assets.”

In what appears to be an ongoing threat to the cryptocurrency ecosystem, cryptocurrency lending platform Celsius confirmed a $ 50 million loss in the BadgerDAO Decentralized Financial Protocols (DeFi) exploit.

The first reports of the BadgerDAO security breach came out on Thursday.when the log officially announced on Wednesday that it had received multiple exports of money from unauthorized users.

Using preventive measures similar to Bitmart’s, Badger’s team further investigated the problem and put all smart contracts in the log on hold to prevent further losses.

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