Hackers stole SHIBA INU – Bitmart hack

You may meet a lot of crypto millionaires. A lot of them might have invested just $10. At one side, crypto has totally changed a lot of lives. Many now owe their dream car, quit jobs, dream home, travelling the world or so.

The other side of the picture is dark. we are seeing a lot of crypto-based projects these days. But as this industry is at its early stages. These projects are very likely at a risk of being hacked.

What happened with bitmart?

One of the most trusted cryptocurrency trading platform that provides real time trading services. Sadly, it is the newest victim. Last weekend, hundreds of millions of dollars were drained from Bitmart. And SHIBA INU was on top. It was badly impacted by the hack.

However, the SHIB crypto community is now reacting to the hack, as well as developers’ efforts to help out the exchange.

Saturday saw a massive hack take place in the blockchain world. Bitmart, one of the more notable crypto exchange players, saw nearly $200 million in assets drained from its platform. Two of the exchange’s hot wallets, one on the Binance (CCC:BNB-USD) Smart Chain and one on Ethereum (CCC:ETH-USD), were compromised. The hack is draining these wallets of 20 different tokens. A hot wallet is a wallet connected to the internet; it’s worth noting that hot wallets get a fair bit of criticism for being less secure than offline, cold-storage crypto methods.

SHIB Crypto Fans Show Mixed Feelings

Approximately 893 million SHIB, a grip of tokens worth about $32 million, were taken from these wallets. Indeed, Bitmart is one of the many popular exchanges through which users trade SHIB.

Shiba Inu developers, alongside the Huobi Global exchange, are assisting Bitmart with getting itself back in order. The token ecosystem is showing Bitmart some love with a post on its Twitter account today, while also advising its users to invest with caution.