Home Latest News Refunds for Victims Affected by $200 mn BitMart Crypto Hack Still Pending

Refunds for Victims Affected by $200 mn BitMart Crypto Hack Still Pending


Even after more than a month, victims of a $200 million hack of popular cryptocurrency exchange BitMart are still waiting for their money.

BitMart assured the victims of the platform-wide $200 million attack a full refund, according to reports.

On December 4, hackers used a stolen privacy key to gain access to one of BitMart’s hot wallets, stealing various crypto tokens, according to CNBC.

BitMart declared shortly after the hack that it will use its own funds “to cover the incident and compensate affected users”.

BitMart announced in a statement that it will compensate victims of the large-scale security breach, which it blamed on a stolen private key.

The report said on Sunday “Many BitMart customers say they haven’t received any form of reimbursement,”

It’s yet unclear how BitMart intends to compensate all affected customers.

BitMart revealed that it was in talks with a number of project teams to determine the best cost-effective solutions, such as token swaps.

BitMart said “No user assets will be harmed. We are now doing our best to retrieve security set-ups and our operation. We need time to make proper arrangements and your kind understanding during this period will be highly appreciated,”

SafeMoon token was the hardest impacted of all the tokens stolen in the BitMart hack, according to daya from blockchain security firm PeckShield.

SafeMoon holders have taken their struggle to Twitter, using the hashtag #WenBitMart to get their money back.

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