back to article Miscreants make off with $150m of digital assets in BitMart security breach

Cryptocurrency exchange BitMart has coughed to a large-scale security breach relating to ETH and BSC hot wallets. The company reckons that hackers made off with approximately $150m in assets. Security and analytics outfit PeckShield put the figure at closer to $200m. "We have identified a large-scale security breach related …

  1. Doctor Syntax Silver badge

    At some point all the cryptocurrency is going to end up in the hands of the thieves so all they'll be able to do is steal from each other, assuming that's not the case already.

    1. Anonymous Coward
      Anonymous Coward

      That's what I keep telling idiot investors who sometimes get convinced by smooth taking shysters that it's the next big thing: "if you want to support an infrastructure for handling the proceeds of crime, be my guest. Just don't say I didn't warn you."

      1. Anonymous Coward
        Anonymous Coward

        an infrastructure for handling the proceeds of crime,

        Isn't that the dictionary definition of cash ?

  2. ecofeco Silver badge

    So....

    How's that unregulated cloud thing working for ya?

  3. Sorry that handle is already taken. Silver badge

    Another one bites the dust

    Add it to the list.

    1. tmTM

      Re: Another one bites the dust

      You would think, but have they lost $150m of their own money or $150m of other peoples money?

      1. Sorry that handle is already taken. Silver badge

        Re: Another one bites the dust

        Or is it an inside job? Anything's possible.

  4. _andrew

    "Hot Wallet" == "Internet Banking"?

    > "Because hot wallets are connected to the internet, they tend to be somewhat more vulnerable to hacks and theft than cold storage methods," BitMart's site says.

    You know that "Internet Banking" is a thing almost everywhere, right? That's the bank that is storing your money, connected to the internet and accessible by nothing more complicated than a web browser or (for the crazy) a mobile app.

    Of course real banks have real security departments, and experts who care about that sort of thing, and insurance schemes and regulations and a variety of fall-backs.

    1. Version 1.0 Silver badge
      Alert

      Re: "Hot Wallet" == "Internet Banking"?

      If it's on the Internet then it can be hacked ... I've been suggesting that El Reg offers a "security" icon as a pair of wire cutters for a while now ... but watching the world I'm going to change my suggestion; El Reg, Can we have an Axe as a "security icon" please?

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