BitMart's hot wallets were compromised on December 4, 2021, resulting in theft of $196M: $100M on Ethereum and $96M on Binance Smart Chain.

BitMart founder and CEO Sheldon Xia tweeted to admit that a large-scale security breach occurred on the platform, and hackers were able to extract assets worth about US$150 million. The affected ETH hot wallet and BSC hot wallet carry a small amount of assets on BitMart, and the other wallets are safe and undamaged.