A group of hackers exploited vulnerabilities in Ethereum and the Binance Smart Chain to steal $200 million from BitMart.
They packaged themselves a bundle of 20 different tokens that included altcoins such as BNB, Safemoon, BSC-USD and BPay.
The scam was first identified by Peckshield, a blockchain security and data analytics company, but initially only a $100 million movement through the Ethereum blockchain was detected.
Their further investigation found an additional $96 million worth of transfers on BSC.
Total estimated loss: ~200M (~100M on @ethereum and ~96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of affected assets/amounts on @BinanceChain pic.twitter.com/cXXApDFtd7— PeckShield Inc. (@peckshield) December 5, 2021
BitMart’s CEO Sheldon Xia, said on Twitter that a stolen private key caused the problem, which put two hot wallets at risk. BitMart is using its own funds to compensate affected users. They are doing their best to restore order and ask for users’ patience in the meantime, but they are confident that they will gradually resume deposit and withdrawal functionality from 7 December 2021.
The above does not constitute financial advice. Read the whitepaper, review the roadmap, open Blockchain Explorer and use your own judgement when investing.
See you later,