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BitMart to compensate victims after hackers steal $150 million worth of cryptocurrencies

BitMart has said deposit and withdrawal functions will 'gradually begin on December 7, 2021'

December 07, 2021 / 10:29 AM IST
Bitcoin | Representative image

Bitcoin | Representative image

Crypto exchange BitMart has said it will compensate victims of a mega security breach after hackers stole cryptocurrencies worth around $150 million.

The crypto exchange had completed initial security checks and identified affected assets, BitMart said in a statement on December 6, two days after the security breach.

"This security breach was mainly caused by a stolen private key that had two of our hot wallets compromised. Other assets with BitMart are safe and unharmed," it said.

According to BitMart, the affected ethereum hot wallet and Binance Smart Chain hot wallet carried a "small percentage" of assets on BitMart.