MCS | Hackers Stole $196M from BitMart

MCS | Hackers Stole $196M from BitMart

#Be_a_Trader

Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.

Another hacking incident occurred!

‘PeckShield’, a blockchain security and data analysis company, announced on the evening of December 5 that hackers had stolen approximately $196M from BitMart. PeckShield found that cryptocurrencies worth tens of millions of dollars were constantly leaking from one of BitMart's wallet addresses to a specific address.

※ The Addresses used for the BitMart Hacker:

0x39fB0dCd13945B835d47410Ae0DE7181D3edf270

0x4bb7D80282F5E0616705D7f832AcFC59F89F7091

The hacker used "1inch", a decentralized exchange (DEX) aggregator, to swap the stolen assets for ETH, and used a secondary address to deposit the ETH into privacy mixer Tornado Cash.

According to PeckShield, BitMart lost around $100M in various cryptocurrencies on the Ethereum network and another $96M from cryptocurrencies on the Binance Smart Chain.

Source: PeckShield Inc. Twitter (@peckshield)

BitMart initially countered PeckShield's tweet saying that the tweet is not true via its official Telegram; however, a few hours later Sheldon Xia, the CEO of BitMart, tweeted in his Twitter that there was in fact a “massive security breach” and that hackers stole $150M worth of assets.

Source: Sheldon Xia Twitter (@sheldonbitmart)

Xia tweeted that the breach was related to “one of (BitMart's) ETH hot wallets and one of (BitMart's) BSC hot wallets."

This was made official through an BitMart's announcement on December 6th.

Source: BitMart

Due to this hack, BitMart's withdrawal function has been temporarily suspended, and it is said that it will gradually normalize from the 7th. The good news (for the trader) is that BitMart will compensate users who have been affected by the hack with its own funds.

As the cryptocurrency market grows, the act of extorting other people's assets through the wrong method is occurring more frequently. At MCS, we implemented the industry-leading hyper security system to protect traders' assets. MCS has partnered with BitGo, the industry's best-certified security company, to store all assets in a multi-sig cold wallet to safely protect traders' valuable assets. In addition, information about all traders is strictly encrypted and safely managed. Also, the system is supervised in real-time, so as soon as security threats are discovered, countermeasures are deployed to resolve the issue.

Traders always come first on MCS!

Thank you!

Sincerely,

MCS Team

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