Kazeemsodiq
Junior Member
- May 28, 2015
- 111
- 24
200 million is a lot of loss for an exchange
Bitmart exchange hacked for $200 million
- Thread starter R4v3nbl4ck
- Start date
- Nov 22, 2019
- 6,959
- 1,681
I had some shib there. Is it gone forever ?
R4v3nbl4ck
Senior Member
- Sep 29, 2020
- 1,071
- 1,313
Rumors say they will buy crypto back. Just rumors for now though.
If you Had some Coins in there . i would say you wouldn’t commenting and asking this to us .instead you were just login and check out by yourself or Freak yourself out while Checking
nirajjoshi
Power Member
- Sep 20, 2015
- 581
- 985
Remind me again when such thing happened with your money in the banks? I mean, when did millions of bank accounts got hacked in a single day and people lost all their money?
SocialManager
Elite Member
- Nov 26, 2018
- 3,155
- 3,678
Nobody lost all their money here. Banks have been hacked for millions before.
https://www.proofpoint.com/us/blog/...heft-bank-history-over-100-banks-30-countries
nirajjoshi
Power Member
- Sep 20, 2015
- 581
- 985
How did nobody lost their money? Check out the reddit subs. Especially safemoon one. People are reporting losses. To correct these losses BitMart will have to buy back all the tokens or refund customers with fiat.
SocialManager
Elite Member
- Nov 26, 2018
- 3,155
- 3,678
Nobody lost their money. Anyone who says they lost anything is a liar.
- Nov 22, 2019
- 6,959
- 1,681
Actually it is not a lot. I will login when I need to buy something there.If you Had some Coins in there . i would say you wouldn’t commenting and asking this to us .instead you were just login and check out by yourself or Freak yourself out while Checking
R4v3nbl4ck
Senior Member
- Sep 29, 2020
- 1,071
- 1,313
They confirmed they will refund all the affected users.
Pericolorso
Newbie
- Aug 29, 2020
- 23
- 9
So, let's make it clear for everyone:
Why people didn't lost their money? Because BitMart is a centralized wallet, it means that he's owning the coins theirselves and it sell the assets to the members, so even tho BitMart lost the coins, we keep our records and assets. This only affects in short term as you are currently not able to withdraw
What happened? BitMart system compound Hot-Cold wallet systems. Meaning all the transactions go through these two wallets as a final step to be stored in the Cold wallet, that is the 'safe' one. The coins have been stolen on the hot wallet, where coin are stored for about 48 hours for various checkings before entering the final wallet.
Is this normal? It's not normal but has happened with major platform (Binance few years ago) and as we can see they are all doing great despite these hacks.
Should we be worried? Nah
Sorry for poor english and grammar errors and do your own researches always
Why people didn't lost their money? Because BitMart is a centralized wallet, it means that he's owning the coins theirselves and it sell the assets to the members, so even tho BitMart lost the coins, we keep our records and assets. This only affects in short term as you are currently not able to withdraw
What happened? BitMart system compound Hot-Cold wallet systems. Meaning all the transactions go through these two wallets as a final step to be stored in the Cold wallet, that is the 'safe' one. The coins have been stolen on the hot wallet, where coin are stored for about 48 hours for various checkings before entering the final wallet.
Is this normal? It's not normal but has happened with major platform (Binance few years ago) and as we can see they are all doing great despite these hacks.
Should we be worried? Nah
Sorry for poor english and grammar errors and do your own researches always