A few days after the hack, Bitmart resumes withdrawals, ETH deposits

• Bitmart resumes withdrawals, deposits of ETH.
• The exchange replaces deposit addresses with coins.
• Promises to return money to users affected by Saturday’s hack.

72 hours after a massive hack that resulted in the theft of about $200 million from BitMart, the exchange resumed withdrawals and deposits of Ethereum.

Sheldon Xia, CEO of the exchange, announced on Twitter on Wednesday that withdrawals and deposits for other tokens would soon follow. The exchange is also replacing all deposit addresses for Bitcoin, Ether, and Solana to narrow the ends and prevent future hacks.

The exchange has asked users to log out of their accounts and log back in to make sure they are using the correct address in the blog post.

“As part of our security update, the exchange will replace all deposit addresses, including BTC, ETH, SOL, and all other tokens.

“Please check BitMart deposit addresses before making any deposits. Tokens may not be recovered if they are placed on the wrong addresses by mistake. BitMart is not responsible for erroneous deposits.

“For your safety, you are advised to log out of your BitMart account and log back in to make sure you find the new deposit addresses.

bitmart hack

Hackers blew up the stock exchange on Saturday. They’re taking $150 million worth of coins. The hackers targeted the Ethereum and BSC hot wallets of the exchange and took out a large number of 48 different tokens, including SHIB, MANA, BNB, BUSD, Safemoon, Floki, BabyDoge, GMEX and others.

Cybersecurity analysis firm Peckshield on Twitter was the first to identify the hack. Packschild noticed a steady outflow of huge token balances from a particular Bitmart address. The address is now tagged as “Bitmart Hacker”on Etherscan.

Exchange for compensation to victims

Sheldon Xia promised that the exchange would refund $196 million to all victims of the hack on Saturday night. The exchange said it would return the money from its own pocket.

“The exchange will use our funding to cover the incident and compensate affected users,” Xia wrote. “We are also in talks with several project teams to confirm the most reasonable solutions such as a token swap. No user assets will be affected.”

“We are also in talks with several project teams to confirm the most reasonable solutions such as a token swap. He wrote that no user assets would be affected.