Large-scale cryptocurrency robberies remain a significant headache. According to Coindesk, the crypto exchange BitMart has lost the equivalent of $196 million( originally estimated at $ 150 million) to a hacker. The invader infraction Ethereum and Binance purses with a submerge of movements starting around 2:30 PM Eastern on December 4th, followed by an exodus of signs 2 hours later that included Shiba and USDC.
Founder Sheldon Xia said only a “small percentage” of BitMart’s assets are vulnerable. Even so, the company has frozen withdrawals “until further notice” and is reviewing security.
It’s not clear who was responsible, but the culprit may have been versed The stolen funds have been sent to an Ethereum mixing service that could make it difficult to trace the funds. Crypto thieves aren’t always that discerning. The Poly Network attacker, for instance, offered to “surrender” and wound up returning all their loot. They claimed they were contributing to Poly’s security, but that might also have been an attempt to avoid repercussions after researchers attained potentially linking data.
While this isn’t the biggest digital robbery( the Poly attacker grabbed $610 million, for instance ), Coindesk tones this is one of the larger streamlined exchange hackers to date. It also highlights the growing issue of cryptocurrency theft — information and communication technologies makes it all too feasible to steal large sums with few repercussions.
Read more: engadget.com