Bitcoin News

Bitmart lost nearly $200M Over Ethereum and Binance Smart Chain exploit

It looks like you shared a news article detailing two major cryptocurrency security breaches. Since you didn’t include a specific prompt, I have provided a structured summary of the key points below.

Key Takeaways

1. The Bitmart Exchange Hack

  • Total Loss: Estimated between $150 million (stated by Bitmart CEO Sheldon Xia) and nearly $200 million (estimated by blockchain security firm PeckShield).
  • Networks Compromised: Ethereum (ETH) and Binance Smart Chain (BSC) hot wallets.
  • Stolen Assets: A mix of over 20 tokens, including major altcoins (BNB, Safemoon, BSC-USD, BPay) and meme coins (BabyDoge, Floki, Moonshot).
  • Attack Method: PeckShield described the exploit as a straightforward “transfer-out, swap, and wash” operation.
  • Status: The CEO confirmed the breach and noted that the exact methods used are still under investigation.

2. The BadgerDAO Exploit

  • Total Loss: $50 million, which notably impacted the crypto lending platform Celsius.
  • Discovery: Unauthorized withdrawals of user funds were first reported on December 2nd.
  • Mitigation: To prevent further losses, the BadgerDAO team paused all smart contracts on the protocol while they investigate the breach.

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