BitMart loses at least $150 million to hackers

Cryptocurrency exchange platform Bitmart became a victim of a massive cyber attack. Various cryptocurrencies have been stolen and sent to unknown threat actors with the forged identities of 'Bitmart Hacker'.

The incident occurred on Dec. 4.

In a published press release, Bitmart reported that the initial security checks were completed. It was revealed that the data leakage occurred due to the stolen key, which was used to affect the two platform wallets. The remaining assets of the company remained unharmed.

In response to this incident, BitMart has completed initial security checks and identified affected assets. This security breach was mainly caused by a stolen private key that had two of our hot wallets compromised. Other assets with BitMart are safe and unharmed.

Although the company has said it is striving to maintain transparency regarding the incident, and it ostensibly has, its estimate of $150 million in losses is a far cry short of the estimate by blockchain security and data analytics company PeckShield, who was first to report on the data leakage. After conducting its analysis, data analytics company, however, estimated that total losses were around $196 million.

Previously, another similar incident occurred. The users of the BadgerDAO platform, which is focused on Bitcoin owners, have lost approximately $119 million.