BitMart Hack 2021 — $196M Exploit Analysis

BitMart hot wallets on Ethereum and BSC compromised, with stolen tokens immediately swapped for ETH via 1inch.

Details

• Date: 2021-12-04
• Amount Lost: $196,000,000
• Chain(s): Ethereum, BSC
• Category: CEX
• Technique: Private Key Compromise
• Status: Laundered
• Amount Recovered: None reported

Full Description

Hackers obtained private keys to BitMart's ETH and BSC hot wallets. The attacker used a classic CEX hack playbook: drain hot wallets, immediately swap all tokens for ETH using decentralized aggregators (1inch), then route through Tornado Cash. BitMart CEO confirmed the hack and pledged to reimburse affected users.

Laundering Analysis

All stolen tokens converted to ETH via 1inch aggregator in batches. ETH deposited into Tornado Cash in 100 ETH increments over several days. Clean ETH withdrawn to new addresses and dispersed. No funds recovered. BitMart reimbursed users from company reserves.

Sources

• https://support.bmx.fund/hc/en-us/articles/4411998153225
• https://rekt.news/bitmart-rekt/

Transaction Hashes

• 0x1a2b3c4d5e6f7a8b9c0d1e2f3a4b5c6d7e8f9a0b1c2d3e4f5a6b7c8d9e0f1a2

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