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BitMart Exchange Hacked, $200 Million Worth Of Cryptocurrency Tokens Stolen.

According to reports, the breach affected two of its hot wallets on the Ethereum (ETH) blockchain and the Binance smart chain (BSC). The wallets contained only a “small percentage” of the assets. ” Hot wallets, as opposed to cold wallets are internet-connected and allow cryptocurrency owners to receive and send tokens.

BitMart, a cryptocurrency trading platform, has disclosed a “large-scale security breach” caused by a stolen private key which resulted in the theft of more than $150 million in various cryptocurrencies.

BitMart CEO Sheldon Xia reported in a series of tweets earlier today. “This security breach was primarily caused by a stolen private key which compromised two of our hot wallets.” In light of the incident, BitMart announced a temporary suspension of withdrawals until further notice, as well as a thorough security review, with plans to resume operations on December 7.

The cyber – attack is the  series of attacks on cryptocurrency platforms such as PolyNetwork, Cream Finance, Liquid, and bZx, among others.

Threat actors set up a $120 million heist of Bitcoin and Ether assets from BadgerDAO, a decentralised finance (DeFi) lending service, last week. Separately, blockchain startup MonoX Finance revealed that a hacker stole $31 million by exploiting a bug in the software used to draught smart contracts.

In August, an unidentified attacker stole over $600 million in tokens from the cryptocurrency platform PolyNetwork, only to return nearly all of the funds two weeks later.

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