Cryptographic Exchange Bitmart has lost nearly $ 200 million in a breach of a hot wallet hosted on the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.
The $ 200 million Bitmart hack was first revealed by blockchain security and data analytics company Peckshield. The company first identified a transfer of approximately $ 100 million over the Ethereum blockchain.
Further research from the team revealed a $ 96 million simultaneous hack on the BSC reserve of the crypto exchange.
Estimated total loss: ~ 200 million (~ 100 million) @ethereum And ~ 96M @BinanceChain ). (Previously, I only counted losses @ethereum).And here is a list of affected assets / amounts @BinanceChain pic.twitter.com/cXXApDFtd7
— PeckShield Inc. (@ Peckshield) December 5, 2021
Hackers have eliminated more than 20 token combinations, including altcoin such as Binance Coin (BNB), Safemoon, BSC-USD, and BPay. Significant amounts of meme coins such as BabyDoge, Floki and Moonshot have also been compromised by hacking.
according to For Peckshield, hacking was a simple case of transfer, replacement, and cleaning.
Bitmart CEO Sheldon Xia later identified the hack on Twitter as a “major security breach” against ETH and BSC hot wallets.
“At this point, we are still concluding the available methods. Hackers have been able to withdraw approximately US $ 150 million worth of assets.”
3/3 At this time, we are temporarily suspending withdrawal until we are notified later. We appreciate your understanding and cooperation. thank you very much.
— Sheldon Char (@sheldonbitmart) December 5, 2021
Related: Cryptocurrency lender Celsius reportedly influenced by Badger DAO exploit
In what appears to be a continuing threat to the crypto ecosystem, the crypto lending platform Celsius has identified a loss of $ 50 million in the abuse of the decentralized finance (DeFi) protocol Badger DAO.
The first report of Badger DAO’s security breach surfaced on December 2, and the protocol officially announced on Wednesday that it had received multiple exports of fraudulent withdrawals of user funds.
Taking similar precautions as Bitmart, the Badger team continued to investigate the problem and suspended all smart contracts on the protocol to avoid further losses.
