Crypto Exchange Bitmart Loses $200 Million In a Hot Wallet Compromise ⛔

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Crypto Exchange Bitmart Loses $200 Million In a Hot Wallet Compromise ⛔

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First brought to notice by Peckshield, a blockchain security and data analytics company, the hack happened over the Ethereum and Binance Smart Chain blockchains. 

The hackers stole an assorted mix of more than 20 tokens that included Binance Coin, Safemoon, BSC-USD, BNBBPay, BabyDoge, Floki and Moonshot. 

Later confirmed by the exchange CEO Sheldon Xia, the hack strategy was a straightforward case of transfer-out, swap and wash. 

Another well-known crypto lending platform Celsius also reported a $50 million loss where the hackers compromised decentralized finance protocol BadgerDAO. 

It suffered multiple exports of unauthorized withdrawals of user funds. 

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