BitMart hack
About $196M was stolen from the BitMart exchange in December 2021 after attackers obtained a private key controlling two hot wallets (~$100M on Ethereum, ~$96M on BNB Chain). Funds were laundered via 1inch and Tornado Cash; BitMart reimbursed affected users.
Also known as: BitMart, BitMart hack
Summary
On December 4, 2021, the cryptocurrency exchange BitMart lost roughly $196 million when attackers compromised a private key that controlled two of its hot wallets — about $100 million in assets on Ethereum and about $96 million on BNB Chain, spanning 20+ tokens. [1][2]
Laundering and response
Security firm PeckShield described a "transfer-out, swap, and wash" pattern: the attacker used the 1inch DEX aggregator to swap stolen tokens into ETH, then deposited the proceeds into the Tornado Cash mixer. BitMart's CEO said the breach was caused by a stolen private key, that cold-wallet assets were unaffected, and that the exchange would reimburse affected users from its own funds. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
- Cryptopia hackRelatedExchanges & platformsThe New Zealand exchange Cryptopia was hacked in January 2019, losing about NZ$30M (~$20M) in crypto, and was placed into liquidation in May 2019. A landmark NZ court ruling held that the assets were held on trust for account holders.
- Poloniex hackRelatedExchanges & platformsAbout $120M+ was drained from hot wallets of the Justin Sun-owned exchange Poloniex on November 10, 2023, across Ethereum, Tron, and Bitcoin. Security firms attributed it to a private-key compromise, with the North Korea-linked Lazarus Group widely suspected.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
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