BitMart Exchange Suffers $196 Million Security Breach

Summary # On December 4, 2021, BitMart Exchange, a global cryptocurrency platform operating in 180+ countries, fell victim to a significant security breach. The attacker extracted approximately $196 million worth of various digital assets from the hot wallets of the exchange across two networks: Binance Smart Chain (BSC) - $96 million, and Ethereum - $100 million. The primary targets were meme-based tokens, such as SHIB and SAFEMOON. The attacker converted the stolen tokens into ETH and BNB via 1inch and laundered these assets using TornadoCash. ...