The cryptocurrency trading platform BitMart reported that over $150 million (USD) of cryptocurrency assets in so-called “hot wallets” were stolen due to a “large scale security breach” resulting from a stolen private key. Hot wallets, as opposed to their cold counterparts, are cryptocurrency accounts that are connected to the internet, allowing for rapid transfer and deposit of tokens. Research company PeckShield estimated the total loss of assets at approximately $200 million (USD). BitMart reported that it has frozen withdrawal transactions while the investigation is ongoing, but plans to gradually resume transactions as of Tuesday, Dec 7.
12 Essentials for a Successful SOC Partnership
As cyber threats continue to impact businesses of all sizes, the need for round-the-clock security