BitMart Chief Executive, Sheldon Xia, wrote on Twitter the $150 million security breach was "mainly caused by a stolen private key." Xia reassured other cryptocurrencies with BitMart "are safe and unharmed" with only two of the exchange's hot wallets had been compromised. It remains unclear though, who and how exactly gained access to the sensitive data. The Cayman Islands-based exchange plans to use its funding to cover the incident and compensate affected users.
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"We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user assets will be harmed," Xia highlighted.
It is assumed that deposits and withdrawals will "gradually begin" on December 7, 2021. The detailed timelines will be announced later, Xia added.
BitMart lost over $150 million as a result of a large-scale security breach of several hot wallets. Hackers managed to steal a total sum of approximately $150 million from BitMart's ETH and BSC wallets. According to PeckShield, hackers stole almost $200 million in different altcoins, including SAFEMOON, BNB, BPAY, BabyDoge.
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