Cryptocurrency Exchange BitMart Hacked for 231.9 Billion KRW

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Cryptocurrency exchange BitMart was hacked, resulting in the theft of approximately $200 million (about 231.9 billion KRW) worth of cryptocurrency, CNBC reported on the 5th (local time).

According to the report, blockchain security and data analysis company PeckShield announced on the 4th that hackers had stolen $196 million (about 231.9 billion KRW) worth of cryptocurrency from BitMart.

BitMart also issued a statement that evening acknowledging a "large-scale security breach," but clarified that the hacking damage amounted to about $150 million (about 177.5 billion KRW).

The stolen cryptocurrencies include more than 20 types such as Binance Coin, SafeMoon, and Shiba Inu.

BitMart temporarily suspended all withdrawals until further notice and stated that a thorough security inspection is underway.

BitMart explained that the hacked "hot wallet" only stored a portion of the exchange's assets, and all other cryptocurrency wallets remained secure and unaffected.

A hot wallet refers to a cryptocurrency wallet connected to the internet. Conversely, a cryptocurrency wallet not connected to the internet is called a "cold wallet."

BitMart stated that it has not yet confirmed how the hackers carried out the breach.

CNBC reported that they asked BitMart employees whether customer funds were affected by the hack and if compensation was provided if there was damage, but have not yet received a response.

This content was produced with the assistance of AI translation services.