Bitmart hacked for $ 200 million following Ethereum and Binance Smart Chain exploit

The Bitmart crypto exchange lost nearly $ 200 million in a hot wallet compromise hosted on the Ethereum and Binance Smart Chain blockchai...


The Bitmart crypto exchange lost nearly $ 200 million in a hot wallet compromise hosted on the Ethereum and Binance Smart Chain blockchains.

The $ 200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company that initially identified a transfer of around $ 100 million to the Ethereum blockchain.

Further investigation by the team revealed a simultaneous hack of $ 96 million on the crypto exchange’s BSC reserves:

The hackers got rid of a mix of over 20 tokens including altcoins such as Binance Coin (BNB), Safemoon, BSC-USD and BNBBPay (BPay). Significant amounts of coins such as BabyDoge, Floki, and Moonshot were also compromised in the hack.

According to for Peckshield, hacking was a simple case of transfer, swap and wash:

Transfer of stolen tokens to Bitmart. Source: PeckShield

Bitmart CEO Sheldon Xia later confirmed the Twitter hack as a “large-scale security breach” on ETH and BSC hot wallets:

“At the moment, we are still in the process of concluding on the possible methods used. The hackers were able to remove assets worth around $ 150 million.

Related: Celsius cryptocurrency lender reportedly hit by BadgerDAO exploit

In what appears to be a continuing threat to the crypto ecosystem, cryptocurrency lending platform Celsius has confirmed a loss of $ 50 million in the exploit of the decentralized finance protocol (DeFi) BadgerDAO.

The first reports of BadgerDAO’s security breach surfaced on Thursday, with the protocol officially announcing that it had received several exports of unauthorized withdrawals of user funds on Wednesday.

Taking preventative measures similar to Bitmart, the Badger team continued to investigate the issue and suspended all smart contracts on the protocol to prevent further loss.