Bitmart Says It Lost USD 150M In a Hack, Suspends Withdrawals

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Bitmart is one of the most popular crypto exchanges. It confirmed that it lost approximately USD 150m in a hack on December 5th and temporarily suspended withdrawals until further notice.

The company stated that they had identified a “large-scale security breach” in relation to one of their Ethereum hot wallets as well as one of their Binance Smart Chain Hot wallets.

Bitmart stated that they are still evaluating the possibilities and added that the wallets affected “carry a small amount of BitMart assets and all of our other wallets remain secure and unharmed.”

It was founded in 2017 and claims to have more than 9,000,000 users. It included Alexander Capital Ventures as well as Fenbushi Capital as its investors.

According to Coingecko data, Bitmart’s 24-hour trading volume surpassed USD1.4bn. This makes Bitmart the 25th most popular exchange in terms of daily trading volume.

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