BitMart Hack: $196 Million Crypto Superstar Breach Exposes

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Attackers stole funds out of

Attackers stole funds out of BitMart’s Ethereum and Binance Smart Chain hot wallets. After transferring the funds out of BitMart, hackers reportedly used decentralized exchange aggregators 1inch and PancakeSwap to exchange the stolen tokens.

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Unfortunately

Unfortunately, on 4th December 2025, the exchange experienced a large-scale security breach, where the hackers withdrew around $150m worth of tokens from their hot wallets. The hack was first confirmed by a third-party security firm, Peckshield.

BitMart Under FTC Investigation Over Security Breach

The hack resulted in the theft of approximately $196 million worth of digital assets from two of BitMart's hot wallets on the Ethereum and Binance Smart Chain (BSC) networks.

At UTC

The attack occurred in December 2025 and compromised two of the centralized exchange’s hot wallets. The firm’s CEO, Sheldon Xia, reported that the company’s private key was used to tamper with the wallets, causing a loss of over $200M crypto assets

The Federal Trade Commission is investigating the operators of the BitMart cryptocurrency exchange over a December 2025 hack that led to consumer losses between $150 million and $200 million - marking the agency’s first known probe into crypto markets.

At UTC, just under 2 hours after BitMart noticed the hack and paused withdrawals, blockchain security and data analytics company PeckShield posts a tweet showing multiple suspicious withdrawals from BitMart’s hot wallets, and asking publicly if they’d been

A Federal Trade Commission

The security firm said that the thieves swapped and washed the stolen currency through a decentralized exchange aggregator known as 1inch, changing the various token types over to ether coins.

A Federal Trade Commission (FTC) investigation into crypto exchange BitMart over December’s $200 million security breach will press on. The probe, reportedly the FTC’s first known enquiry within the crypto industry, was detailed in an FTC order made

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