This cryptocurrency exchange just got hacked, $200 million stolen

The CEO of a cryptocurrency exchange has confirmed that $200 million in cryptocurrency assets has been stolen using a private key.

@JakConnorTT
Published Tue, Dec 7 2021 2:31 AM CST   |   Updated Thu, Dec 30 2021 8:35 PM CST

An announcement from a CEO of a cryptocurrency exchange has revealed that $200 million in assets have been stolen from wallets.

This cryptocurrency exchange just got hacked, $200 million stolen 01 | TweakTown.com

BitMart CEO Sheldon Xia announced the news via Twitter, saying that the BitMart exchange has identified a "large-scale security breach" that involves the use of a stolen private key that was used to access an Ethereum (ETH) wallet and a Binance Smart Chain (BSC) wallet. According to PeckShield inc, a data analytics company, $100 million was stolen from the Ethereum wallet, and $96 million was stolen from the BSC wallet.

So, what was stolen? According to PeckShield, cryptocurrency coins such as Floki inu, Shiba inu, Elon, CRO, GALA, SAND, and more. As you can probably imagine, it wasn't very long after the hackers transferred the assets out of BitMarts wallets before they were on the market being sold, which resulted in a price dip for a range of coins. Following this hack, BitMart has suspended all withdrawals and deposits, and Xia has said that the company will compensate affected users with company funds.

For more information on this story, check out this link here.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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