The Bitmart crypto exchange fell victim to a hacker attack.

In the course of a "large-scale security breach", they penetrated so-called "hot wallets", which are based on the Ethereum and Binance blockchains, and stole coins worth around 150 million dollars, according to Bitmart.

Hot wallets are purely software-based storage options for crypto coins that are accessible via the Internet and are accordingly much more vulnerable than physical storage (“cold wallets”). 

Martin Hock

Editor in business.

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At the moment they are still busy trying to find out how the hackers gained access. However, only a small part of the assets traded at Bitmart are affected and all other wallets are not affected. However, Bitmart has suspended any withdrawal of funds until further notice. Please be patient and understanding.

The hack was first made known by the blockchain security company PeckShield, writes the Bloomberg news agency, citing specialist media.

According to a report by the platform tn3, which specializes in the digital economy, Bitmart initially rejected this report on Saturday as "fake news" and described the movements Peckshueld described as suspicious as "normal payouts".

Peckshield recently assumed that around $ 200 million had been withdrawn.

Altcoins in the focus of thieves

According to Peckshield, at least 21 different so-called Altcoins (these are all crypto systems except Bitcoin) and meme tokens (crypto systems with branded or fun character such as Dorgecoin or Shiba Inu) were stolen.

Binance Coin (BNB), Safemoon, BSC-USD, Stablecoin USDC and BNBBPay (BPay), as well as Babydoge, Floki and Moonshot are specifically affected.

According to data from the Chinese crypto security company Slowmist, there have been 14 hacks of crypto exchanges this year.

The largest was an attack on the Africrypt exchange, in which 69,000 Bitcoins were stolen, valued at around $ 2.3 billion at the time.

Overall, Slowmist puts the number of hacks this year at 188 with a total damage of 7.25 billion dollars.

In addition to the theft, the crypto market was also shaken by a price slide over the weekend.

Bitcoin's price fell below $ 50,000 on Saturday.

After the sharp downward movement, the price fluctuated between $ 47,000 and $ 49,000 on Monday.

There are many reasons for a price slide

According to experts, a precise reason for the sudden drop in the Bitcoin price was not immediately apparent.

One referred to the sometimes greater fluctuations in crypto money, especially at the weekend - in less liquid markets.

If individual investors then sell off larger positions, this can put a lot of pressure on the price.

In addition, there is currently a somewhat tense mood on the financial markets.

The reasons are the uncertainty about the consequences of the spread of the omicron variant of the coronavirus and the expectation that the Fed - forced by high inflation - is likely to reduce its bond purchases to support the economy during the corona pandemic more quickly than expected recently.

In the new week, however, the eyes of crypto investors will also be directed to a hearing of the heads of companies in the field, such as the Coinbase trading platform, before a committee of the US House of Representatives.

It is on the agenda on Wednesday.