Post
Topic
Board Bitcoin Discussion
Re: Bitmart to reimburse $200 million to customer
by
adzino
on 15/12/2021, 00:00:13 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
They had to reimburse their users or they would have ended up losing their reputation. They would have lost most of their users. Offering reimbursement made current traders feel more safe. They now think if the exchange ever gets hacked, their funds will still be returned (i know... won't always happen. But this is what they believe now).
Anyway, most of the well known exchanges would have reimbursed their users. All of them contingency reserve funds for situations like this.
We have been hearing about hacks like this for years, yet people still store their coins in the exchange.