Bitmart Hack
REPORTED LOSS
$196M
What happened
On December 4, 2021, BitMart disclosed a breach of its Ethereum and BNB Smart Chain hot wallets, initially estimating a $150 million loss. A later BitMart update attributed the incident to stolen private keys. PeckShield's estimate, reproduced in a retrospective incident analysis, was approximately $196 million across both chains.
Technical Root Cause
Compromise of two hot-wallet private keys; the initial access vector and precise operational failure were not publicly disclosed.
Case & protocol details
Classification
Infrastructure / Key Compromise / CeFi
Protocol Type
CEX
Affected asset / contract
BMC
Official Website
www.bitmart.com/
Protocol Twitter/X
@BitMartExchange
How it happened
- Private keys for two hot wallets were stolen, according to BitMart; the exchange did not explain how they were obtained.
- The attacker transferred assets from the Ethereum and BNB Smart Chain wallets.
- BitMart suspended withdrawals and announced that it would compensate affected users with company funds. Its December 7 update proposed restoring deposits and withdrawals in stages; that announcement does not establish completed reimbursement.
Evidence & learning
Attack pattern
Compare incidents →Sources and on-chain records
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