Many anti-crypto advocates continue to insist that regulatory uncertainty in the digital asset industry continues to be a problem. They also point out that there is still much work to do to secure the sector as it strives to become comparable with traditional finance. The good news is that the industry has a lot of work ahead of it. Recent Bitmart hacks 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. Blockchain security company Peckshield first revealed the breach. Their cybersecurity team discovered that third-party hackers were able initially to transfer approximately $100 million over Ethereum. A second concurrent hack was conducted of $96 millions. Use the crypto exchange’s BSC reserves.

Bitmart Responds

Crypto community shows solidarity

Education is more important

It is urgent that security measures be improved