Huobi Global and Shiba Inu Community Help BitMart Boost Security After $ 150 Million Crypto Hack
Over the weekend, BitMart – a trusted cryptocurrency exchange providing real-time services, including Bitcoin and Ethereum – lost nearly $ 200 million in cryptocurrency to hackers. in line.
BitMart confirmed in a statement on Saturday that the hack was “a large-scale security breach” and that the hackers have recovered $ 150 million in digital assets.
According to Peckshield, a blockchain security and data analytics company, the loss is around $ 200 million (roughly $ 96 million on the Binance Smart Chain (BSC) and $ 100 million on the Ethernet network).
In a Tweet released on Sunday, Sheldon Xia, chief executive of BitMart, confirmed the security breach. “We have identified a large-scale security vulnerability related to one of our ETH hot wallets and one of our BSC hot wallets.”
Xia further revealed that BitMart was “investigating” the means by which hackers gained access to the assets. “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 ”.
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Huobi to help BitMart track digital assets
But hope is not all lost. Huobi Global (a crypto exchange) and the Shiba Inu community intend to help BitMart strengthen its security systems, track stolen virtual currencies, and report matches with stolen funds.
In a quick response to Xia’s tweet, Huobi Global pledged to help the exchange find a way to recover the stolen cryptocurrencies.
“Huobi will do his best to help [BitMart] in dealing with this issue. If there are any related asset entries, we will report and assist [on time]. “
The Shibu Inu community also offers to help
Soon after, the Shiba Inu community also offered a helping hand to the hacked BitMart.
“Even though the goal of our project is decentralization, we want to show our support and give some love to our friends at [BitMart], who are already working hard to resolve the security incident that happened yesterday. “
Shibu Inu hinted that they were in the best position to offer help, citing efforts to examine potential threats to the ShibaSwap community’s decentralized exchange.
“We have always and continuously reviewed the potential threats to ShibaSwap, but we encourage our community to be aware of scams and to use security features to reduce risk in this crypto space.”
Xia promised all investors concerned that BitMart will compensate their lost crypto funds. “We are also discussing with several project teams to confirm the most reasonable solutions such as token swaps. No property of the user will be damaged.
After the hack, BitMart temporarily suspended all withdrawals until further notice as part of a thorough security review.