May 2, 2024

Crypto exchange that lost $ 200 million will pay compensation to users

BitMart founder Sheldon Sia named the reason for the hacking of the trading platform and the start date for the restoration of functions.related to the deposit and withdrawal of funds.

Cryptoexchange BitMart, which last weekendas a result of a hacker attack, she lost almost $ 200 million, will compensate users for losses from its own funds. The founder of the company, Sheldon Sia, said that the reason for the hack was the theft of private keys from her two hot wallets. The rest of the exchange assets are safe.

From December 7, BitMart will begin procedures to restore the functions of depositing and withdrawing funds. Sia noted that the crypto exchange team is restoring security settings.

On the morning of December 5, the BitMart marketplace reported a hack. The founder of the company called the amount of the loss at $ 150 million. However, the analytical company PeckShield found that the damage amounted to $ 196 million.

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