The global digital asset market is plagued by regulatory uncertainty. Many proponents of anti-crypto continue to point out the need for greater industry security. With the aforementioned, New Bitmart hack revealedThey were also given additional firepower.

Bitmart cryptocurrency exchange suffered a significant hack Dec 5th that resulted in the platform losing nearly $200M due to hot wallet compromises hosted on both the Binance Smart Chain and Ethereum Blockchains. Peckshield, a blockchain security firm that protects cryptocurrency exchanges, exposed the hack first. They discovered that some third parties had been able to send approximately $100 million through Ethereum Blockchain. Then they were able later to steal $96 million. Use the crypto exchange’s BSC reserves.

Bitmart Responds

Crypto community shows solidarity

We need more education

It is urgent that security measures be improved