The $ 200 million Bitmart hack was first revealed by Peckshield, a blockchain data security and analytics company, which initially identified a transfer of around $ 100 million to the Ethereum blockchain.
Further investigation by the team revealed a simultaneous hack of $ 96 million on the crypto exchange’s BSC reserves:
Estimated total loss: ~ 200M (~ 100M on @ethereum and ~ 96M on @BinanceChain ). (Previously we only counted the loss on @ethereum). And here is the list of assets / amounts concerned on @BinanceChain pic.twitter.com/cXXApDFtd7
– PeckShield Inc. (@peckshield) December 5, 2021
Hackers got rid of a mix of over 20 tokens including altcoins such as Binance Coin (BNB), Safemoon, BSC-USD, and BPay. Significant amounts of coins such as BabyDoge, Floki, and Moonshot were also compromised in the hack.
According to for Peckshield, hacking was a simple case of transfer, swap and wash:
Bitmart CEO Sheldon Xia later confirmed the Twitter hack as a “large-scale security breach” on ETH and BSC hot wallets:
“At the moment, we are still in the process of concluding on the possible methods used. The hackers were able to remove assets worth around $ 150 million.
3/3 At this time, we are temporarily suspending withdrawals until further notice. We ask for your understanding and patience in this situation. Thank you so much.
– Sheldon Xia (@sheldonbitmart) December 5, 2021
A report: Celsius cryptocurrency lender reportedly hit by BadgerDAO exploit
In what appears to be a continuing threat to the crypto ecosystem, cryptocurrency lending platform Celsius has confirmed a $ 50 million loss in operating the decentralized finance (DeFi) protocol BadgerDAO.
The first reports of BadgerDAO’s security breach surfaced on December 2, with the protocol officially announcing that it had received several exports of unauthorized withdrawals of user funds on Wednesday.
Taking preventative measures similar to Bitmart, the Badger team continued to investigate the issue and suspended all smart contracts on the protocol to prevent further loss.