Hackers have struck again, and this time, they have hit Bitmart exchange, one of the fastest-growing exchanges. This is bad news for the crypto investors because several cryptocurrencies have their assets stolen, but there are others, like Bitrise coin, that managed to prevent the hackers
According to Bitmart’s CEO, the ‘Security Breach”, or what the crypto community is now calling “Bitmart Hacker,” has lost $196 million in various cryptocurrencies. From to Peckshield estimates, $100 million are cryptocurrencies on the Ethereum chain, and $96 are on the Binance Smart Chain.
Among the cryptocurrencies that have lost their coins to the Bitmart hacking include Safemoon, Floki, and Evergrow. But among the three, Safemoon lost the biggest amounts according to the information provided by Peckshield on their official Twitter account.
But it is good news for the Bitrise coin investors and others that managed to prevent the hackers. Bitrise is among the coins that were listed on Bitmart a few weeks ago and has proven its security integrity during this hacking. It is among the coins that hackers did succeed in stealing crypto coins.
Bitrise is reviewed as one of the most secure cryptocurrencies, and this hacking has proven this point. Not a single crypto coin was stolen, and this is commendable for the Bitrise team. Bitrise protocol is built with incredible security features that make it difficult for hackers to access investors’ coins.
Bitrise coin secures investors’ assets using private keys, mnemonic phrases, password authentication, and more. This makes it impossible for hackers to access investors’ assets. The levels of security put in place are too difficult for hackers to access and steal investors’ assets.
As the Bitrise team has been saying, they are building a platform that addresses, among other problems, the security of the digital assets to protect their investors’ investment. Of importance to note is the Bitrise dApp wallet reviewed as one of the most secure crypto wallets in the market today. The non-custodial wallet gives users sole control of their private keys.
The ‘Bitmart Hacker’ will be one of the most discussed topics in the coming days. The fact that the exchange is using the Poof-of-Stake consensus mechanism and hacking was successfully carried out is really something worth crypto experts’ analysis.
PoS is said to be the solution to the security issues on the PoW protocols, and so ‘Bitmart Hacker’ will bring back the discussion on the security integrity of this consensus method. How other networks using it can improve and make it better to prevent future hacks will be widely discussed.
Crypto investors will also be waiting to hear from individual cryptocurrencies what went wrong and more a comprehensive audit from the Bitmart team. It is expected these teams will come up with an explanation very soon.
It will also be a good moment for crypto investors to take a look at cryptocurrencies that managed to prevent hackers, like Bitrise coin. They have proven a good investment where investors are guaranteed security of their assets. More news regarding ‘Bitmart Hacker’ will be coming out soon.
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