UK markets open in 6 hours 14 minutes
  • NIKKEI 225

    27,312.57
    -154.66 (-0.56%)
     
  • HANG SENG

    24,244.54
    +116.69 (+0.48%)
     
  • CRUDE OIL

    86.00
    -0.96 (-1.10%)
     
  • GOLD FUTURES

    1,842.80
    -0.40 (-0.02%)
     
  • DOW

    35,028.65
    -339.82 (-0.96%)
     
  • BTC-GBP

    30,622.58
    -598.58 (-1.92%)
     
  • CMC Crypto 200

    989.35
    -5.39 (-0.54%)
     
  • ^IXIC

    14,340.25
    -166.64 (-1.15%)
     
  • ^FTAS

    4,273.79
    +10.75 (+0.25%)
     

BitMart CEO Says Stolen Private Key Behind $196M Hack

·1-min read

Hackers were able to drain $196 million of crypto from crypto exchange BitMart by stealing a private key that opened two hot wallets, BitMart CEO Sheldon Xia tweeted on Monday.

  • Hackers stole $100 million worth of various cryptocurrencies on the Ethereum blockchain and $96 million on Binance Smart Chain, crypto security firm PeckShield revealed on Dec. 5.

  • BitMart has completed an initial security check and identified affected assets, and it plans to compensate users out of its own pocket, Xia said.

  • The exchange will announce a timetable to gradually continue deposits and withdrawals, he said, adding that he is “confident” they will resume on Dec. 7.

  • The hackers used decentralized exchange aggregator 1inch to swap stolen tokens for ether, and deposited ether funds to privacy mixer Tornado Cash to hide their identities, PeckShield said.

  • A $139 million hack of BXH Exchange in October was also the result of leaked administrator’s keys.

Read more: Crypto Exchange Bitmart Hacked With Losses Estimated at $196M

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting