Crypto hack victims are still waiting for refunds
Image Source: Punjab News Express

BitMart $200 million crypto hack victims are still waiting for refunds

More than a month after a $200 million hack of the popular cryptocurrency exchange BitMart, crypto hack victims are still waiting for refunds. According to sources, BitMart promised a full reimbursement to the victims of the platform-wide $200 million hack.

Crypto hack victims are still waiting for refunds

Crypto hack victims are still waiting for refunds
Image Source: 5 Dariya News

According to CNBC, BitMart offered victims of the $200 million platform-wide attack a complete refund, although some users have yet to get their refunds. On December 4th, hackers obtained access to one of BitMart’s hot wallets, which are crypto wallets that are connected to the internet, and stole a variety of tokens.

BitMart announced shortly after the incident that it will “cover the problem and pay affected users” with its own funds. However, according to CNBC, a lot of people who were dissatisfied with the service have yet to receive their money back.

“No user assets will be harmed. We are now doing our best to retrieve security set-ups and our operation. We need time to make proper arrangements and your kind understanding during this period will be highly appreciated,” the platform stated.

BitMart announced it will compensate victims of the large-scale security breach, which is attributed to the theft of a private key.” Many BitMart customers say they haven’t received any form of reimbursement,” the report said on Sunday.

An Iranian exile told CNBC that he owned $53,000 in SafeMoon on BitMart, with $40,000 coming from a loan. If nothing is done to correct the situation, a Kansas-based investor warned the publication that he and 6,800 other investors may file a class-action lawsuit against BitMart.

PeckShield, a blockchain security firm, reported that SafeMoon was the most severely affected token in the BitMart hack. The #WenBitMart hashtag has been used by SafeMoon users to ask for a refund on Twitter, according to CNBC.

This may be the only way customers feel they can draw attention to the problem, as CNBC says that when users contact BitMart to inquire about the status of their missing coins, they are met with ambiguous comments.

BitMart has not yet announced how it will compensate all affected customers. CNBC reports that while the exchange could buy back the tokens that were lost, it may do so at an extremely high price. Other people wonder if BitMart will employ insurance to reimburse users.

If you find this article informative then do not forget to share it with your friends and family!

Also read: Everything You Need to Know About Hex Cryptocurrency