• Following the Ethereum and Binance Smart Chain exploits, Bitmart was hacked for $200 million

  • The hackers stole over 20 tokens, including altcoins such as BNB, Safemoon, BSC-USD, and BPay.

    Bitmart, a cryptocurrency 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 discovered by Peckshield, a blockchain security and data analytics firm that discovered a $100 million transfer over the Ethereum blockchain.

    The team’s further investigation revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves:

    The hackers stole over 20 tokens, including altcoins such as Binance Coin (BNB), Safemoon, BSC-USD, and BNBBPay (BPay). The hack also exposed significant amounts of meme coins such as BabyDoge, Floki, and Moonshot.

    The hack, according to Peckshield, was a simple case of transfer-out, swap, and wash:

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

    “At the moment, we are still finalizing the possible methods to be used.” The hackers were able to withdraw assets worth around USD 150 million.”

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

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

    To avoid further losses, the Badger team continued to investigate the issue and paused all smart contracts on the protocol, as Bitmart had done.

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