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BitMart got hacked around $100 million in ETH
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BitMart got hacked around $100 million in ETH

armandorgarmandorg Member, Host Rep

The most ‘trusted’ cryptocurrency trading platform(as what they claim to) got hacked around $100 million in ETH.

From reddit: https://www.reddit.com/r/CryptoCurrency/comments/r92ztx/it_appears_bitmart_has_been_hacked_and_several/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

And it’s all over the internet

Good thing i didn’t have a penny with them.

Comments

  • Most trusted? Never heard of them before :D

    Thanked by 2armandorg ehab
  • armandorgarmandorg Member, Host Rep

    @kheng86 said:
    Most trusted? Never heard of them before :D

    Well personally i did, never used them though.

  • BlaZeBlaZe Member, Host Rep

    Probably an insider job...

    Thanked by 2jenkki ehab
  • Nearly 200 Mn - double of original estimate!

    Crypto Exchange Bitmart Hacked With Losses Estimated at $196 Million
    Bitmart’s CEO has confirmed what the company is calling a “security breach”

    https://www.coindesk.com/business/2021/12/05/crypto-exchange-bitmart-hacked-with-losses-estimated-at-196-million/

    Thanked by 1armandorg
  • What if this is the general opera of the Deroi Trojan horse.

  • As someone new to crypto [yes i know late to the party] could you have just sent your crypto to your own wallet and have been spared from this?

    That 100 million represents a lot of what they were holding for their customers and their own stash correct?

  • @trycatchthis said:
    As someone new to crypto [yes i know late to the party] could you have just sent your crypto to your own wallet and have been spared from this?

    That 100 million represents a lot of what they were holding for their customers and their own stash correct?

    Yes, it's the difference between keeping cash under your bed vs in the bank.

  • @SirFoxy said:

    @trycatchthis said:
    As someone new to crypto [yes i know late to the party] could you have just sent your crypto to your own wallet and have been spared from this?

    That 100 million represents a lot of what they were holding for their customers and their own stash correct?

    Yes, it's the difference between keeping cash under your bed vs in the bank.

    So why do people keep money in exchanges when this appears to happen once a week?

    Is it lazyness, necessity? Some other factors?

  • @trycatchthis said:

    @SirFoxy said:

    @trycatchthis said:
    As someone new to crypto [yes i know late to the party] could you have just sent your crypto to your own wallet and have been spared from this?

    That 100 million represents a lot of what they were holding for their customers and their own stash correct?

    Yes, it's the difference between keeping cash under your bed vs in the bank.

    So why do people keep money in exchanges when this appears to happen once a week?

    Is it lazyness, necessity? Some other factors?

    Liquidity usually, plus you wont need to pay gas fees if its already in the exchanges wallet. Which is pretty big for ETH.

  • SaahibSaahib Member, Host Rep

    And a theory is that lots of people cashing out, Bitmart had not enough cash so a hack is convenient.

  • How they withdraw it? That impossible without fraud schemes.

  • @jenkki said:
    How they withdraw it? That impossible without fraud schemes.

    Withdrawals will begin after dust settles. Usually after 5 years or more.

  • @jenkki said:
    How they withdraw it? That impossible without fraud schemes.

    It's happening atm, theyre using Tornado Cash doing 100ETH/100BNB transaction

  • It's MTGOX again.

  • FranciscoFrancisco Member, Top Host, Host Rep

    @DrSlime said:
    It's MTGOX again.

    At least the CEO didn't "die in India" like the Canadian one.

    Francisco

    Thanked by 1TimboJones
  • @Francisco said:

    @DrSlime said:
    It's MTGOX again.

    At least the CEO didn't "die in India" like the Canadian one.

    Francisco

    The irony of "the world's next currency" being comparable to Enron.

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