BitMart, a cryptocurrency exchange platform, recently disclosed a “large-scale security breach” that resulted in the loss of $150 million, which TheRecord speculates is the “second-largest crypto-heist of the year”. In their posting linked below, BitMart stated that the breach was caused by “a stolen private key that had two of [its] hot wallets compromised”. Hot wallets are cryptocurrency wallets that allow users to store and exchange tokens quickly through internet connection, which can make the wallets more vulnerable to web-based attacks. The platform also revealed that that no user assets will be harmed as BitMart will “cover the incident and compensate affected users”, with its own funding. The $150 million loss is comprised of two (2) cryptocurrencies, Ethereum (ETH) and Binance smart chain (BSC). The threat actor’s access method to the private key is currently unknown.