When a hot wallet used by the cryptocurrency exchange Bitmart was compromised, over $200 million worth of cryptocurrency was stolen.
Peckshield, a blockchain security and data analytics company, found a transfer of almost $100 million through the Ethereum blockchain. This led to the discovery of the $200 million Bitmart heist.
The stolen tokens include Binance Coi, Safemoon, BSC-USD, and BNBBPay, among more than 20 others (BPay). Large sums of meme coins like BabyDoge, Floki, and Moonshot were also stolen in the breach.
Bitmart CEO Sheldon Xia said on Twitter that there was a “large-scale security breach” on ETH and BSC hot wallets. “We are currently debating the various approaches that could have been taken. An estimated USD 150 million in assets were stolen by the hackers.”
The cryptocurrency lending company Celsius said that it lost $50 million because of an exploit of the decentralized finance (DeFi) protocol BadgerDAO. This shows that the crypto industry is always at risk.
On Thursday, the protocol made it official that it had received several reports of illegal withdrawals of user cash on Wednesday, which was the first day of the widely reported security flaw.
With identical preventative measures as Bitmart, the Badger team has suspended all smart contracts on the protocol until they investigate the issue.
