Crypto exchange BitMart confirms hack resulting in loss of $150 million in crypto

Crypto exchange BitMart said late Saturday that it has suffered a hack, resulting in the loss of $150 million worth of crypto. 

Security researchers PeckShield originally estimated that the exchange had been hacked for $100 million.

Founder and CEO Sheldon Xia later confirmed the incident, writing on Twitter: "We have identified a large-scale security breach related to one of our ETH hot wallets and one of our BSC hot wallets. At this moment we are still concluding the possible methods used. The hackers were able to withdraw assets of the value of approximately USD 150 millions."

Xia went on to write that the exchange is "conducting a thorough security review" and that all withdrawals are suspended until "further notice." 

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