Post
Topic
Board Bitcoin Discussion
Re: Bitmart to reimburse $200 million to customer
by
Fortify
on 14/12/2021, 19:02:00 UTC
I received an email from bitemark on the 5th of December informing me about an attack on its got wallet which is hosted in two blockchains Bianca smart chain and Ethereum blockchain. As a result of that a total of $200 million worth of assets ranging from Bitcoin, baby don't, and some other coin. The news of the reimbursement came as a great relief to victims.
https://cointelegraph.com/news/bitmart-pledges-to-reimburse-hack-victims-as-crypto-community-voices-support

It's kind of a laughable response, because they have no means to get back the original money so they would be relying on users to trust their platform and ignore this hack basically. Their whole idea moving forward is to earn money from the transactions that future users do in order to pay back money that was just stolen. The whole business plan for this company revolves around transaction fees they can earn from users, so anyone who sticks with them is basically paying for money that this company lost them in the past. Who would even trust them again because they obviously let their guard down once or did not pay for high enough security, meaning this is very likely to happen again now they have even less funding to use.