Huobi and Shiba Inu community to help BitMart overcome $200M hack

The hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay. Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company, who initially identified a transfer of roughly $100 million over the Ethereum blockchain. Further investigation from the team revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves:Total....

Bitmart, a cryptocurrency exchange, suffered an attack yesterday that exploited some security vulnerabilities in order to gain access to the funds of the exchange. The attack targeted the hot wallets of the platform, specifically the Ethereum and Binance Smart Chain-based wallets. The hackers managed to take almost $200 million in tokens from the platform. Bitmart Hot Wallets Exploited Bitmart has lost more than $200 million in a hack that involved its hot wallets yesterday. The issue was first identified by Peckshield, a blockchain security and auditing company, that raised the....

A prominent Shiba Inu team member has taken to social media to quell the anxieties of community members after being exposed to a dangerous hack attack by cybercriminals who hijacked the community’s telegram account and used it for scam purposes.  Related Reading: Cryptocurrencies As Potential Beneficiaries In A US Treasury Bond Collapse Community Admin Recovers […]

With cases of crypto-related exploits on the rise again, it appears that more can be done by platforms to bolster investor confidence. As regulatory uncertainty continues to plague the global digital asset ecosystem, there are many anti-crypto proponents who continue to harp on the fact that the industry as a whole has a long way to go when it comes to securing itself in a manner that is anywhere comparable to the traditional finance system. Now, with the recent Bitmart hack coming to light, these individuals have been given even more firepower.To recap, on Dec 5, cryptocurrency exchange....

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.Limping out of 2021Last week we thought we had hit rock bottom for Chinese exchanges, as Bitmart was on the unfortunate end of a $150m hack. This week, it was more of the same, as AscendEX lost $80m to a similar style of theftaffecting its Ethereum, BSC and Polygon hot wallet. On December 16, AscendEX released a security post-mortem detailing the attack:An....