Share this article
BitMart Resumes Ether Withdrawals and Deposits, Three Days After $200M Hack
BitMart is replacing deposit addresses for bitcoin, ether and solana.
Updated May 11, 2023, 6:32 p.m. Published Dec 8, 2021, 7:53 a.m.
Make us preferred on Google
Crypto exchange BitMart has resumed ether withdrawals and deposits, three days after hackers stole approximately $200 million from hot wallets, the exchange’s CEO Sheldon Xia tweeted on Wednesday.
- Withdrawals and deposits for other tokens will follow shortly, Xia said.
- BitMart is replacing all deposit addresses for bitcoin, ether and solana, and is encouraging users to log out of their accounts and log back in to make sure they are using the right address, according to a Wednesday blog post.
- The hackers drained $100 million worth of various Ethereum-based cryptocurrencies and $96 million on Binance Smart Chain, security firm PeckShield revealed early on Dec. 5. Xia later said that the hack happened because private keys to hot wallets were stolen.
- The exchange is also giving away a total of 1 million of its own token, BMX, in a “Loyalty Rewards” promotion to users who hold USDT on the exchange, it said on a separate post.
Read more: BitMart CEO Says Stolen Private Key Behind $196M Hack
STORY CONTINUES BELOW
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin's Quantum threat is ‘real but distant,’ says Wall Street analyst as doomsday debate rages on
Wall Street broker Benchmark argued the crypto network has ample time to evolve as quantum risks shift from theory to risk management.
What to know:
- Broker Benchmark said Bitcoin’s main vulnerability lies in exposed public keys, not the protocol itself.
- Coinbase’s new Quantum Advisory Council marks a shift from theoretical concern to institutional response.
- Bitcoin’s architecture is conservative but adaptable, according to Benchmark analyst Mark Palmer, with a long runway for upgrades.
Top Stories
