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Hacked Bitmart to Compensate Crypto Traders After USD 200M Loss
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Major centralized crypto exchange BitMart, which fell victim to a hack over the weekend and lost approximately USD 200m worth of digital assets, intends to compensate affected users and resume its operations.
Sheldon Xia, the CEO of BitMart, revealed the news via a series of Twitter messages, saying that the exchange "has completed initial security checks and identified affected assets." He added that the security breach was the result of a stolen private key that had two of the exchange's hot wallets compromised, insisting that other assets are safe.
Xia also unveiled that the exchange will compensate affected users, stating:
"We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps. No user
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