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Exchange BitMart loses R$1 billion in hacker attack

The BitMart exchange lost about $196 billion in a hacker attack, as announced on Monday (6). The amount corresponds to R$1.1 billion based on the current dollar exchange rate. According to security company PekShield, the attack took place on BitMart's online hot wallets. The failure resulted in…

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The BitMart exchange lost about $196 billion in a hacker attack, as announced on Monday (6). The amount corresponds to R$1.1 billion based on the current dollar exchange rate.

According to security company PekShield, the attack took place on BitMart's online hot wallets. The failure resulted in the loss of $100 million in assets on theEthereum (ETH) and $96 million on the Binance Smart Chain (BSC).

Among the stolen tokens are 29 trillion Safemoon (SAFE), 15.4 billion Floki Inu (FLOKI) and 213 BNB. After confirming the attack, BitMart stopped the withdrawals as a security measure to prevent further robberies.

Users detected violation

The failure in BitMart's system was detected even over the weekend, when users of the platform complained of problems with withdrawals. The first reports came on the 5th, nearly 24 hours after the attack was publicized.

Already on Monday, the CEO of BitMart, Sheldon Xia, announced the stoppage. The executive highlighted that the failure was a large-scale breach, but that it only affected the ETH and BSC portfolios. The other networks did not suffer losses.

“ETH and BSC online wallets carry a small percentage of assets in the bitmart and all our other wallets are safe and unharmed. We are conducting a full security review and will post updates as progress is made. We are currently temporarily suspending withdrawals until further notice.”

There were a number of information conflicts during the hacker attack. At first, Bitmart administrators denied that the exchange was hacked. After users' complaints, the team backtracked and said the theft was $150 million.

However, PeckShield confirmed that the stolen volume was in fact $196 million. Now, the exchange runs to solve the problem and restore withdrawals. According to Xia, the deadline for resuming operations is 24 hours.

Celsius loses R$260 million in attack on DeFi protocol

The attack on BitMart was the second major attack in a week, as reported by CriptoFácil. On December 2, the Badger DAO protocol lost nearly R$700 million in an attack on its website's front end.

Apparently, the Celsius Network lending protocol was the most affected by the attack. The Badger DAO hack would have cost $55 million in Wrapped Bitcoin (WBTC), or R$260 million in current values.

Initially, an unidentified address lost 896 WBTC ($51 million) during the attack. However, data from the Etherscan platform indicate that the address – starting with 0x534 – can be linked to the Celsius network. Thus, the company would have been the biggest single victim of this attack.

Also read: El Salvador buys more R$ 40 million in Bitcoin during fall

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Read also: Brazilians traded R$9 billion in Bitcoin in November; 24.9% decrease compared to October

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