BitMart announced that it has resumed ‘deposits and withdrawals’ to a handful of cryptocurrencies. They include- Bitcoin, Kusama, PolkaDot, Internet Computer, Casper Network, PlatOn Network, Solana, Harmony, HecoFi, IoTeX, NEAR Protocol and Chia tokens.
The exchange platform had paused the deposit and withdrawal features after scammers broke into their systems and stole $300 million. An internal investigation is launched to find out the identity of the attackers.
Also the deposit and withdrawal feature will resume on December 10 at 12 A.M ET. “We’ll resume deposit & withdrawal features for tokens on Bitcoin, Kusama, Polkadot, Internet Computer, Casper Network, PlatOn Network, Solana, Harmony, HecoFi, IoTeX, NEAR Protocol, Chia Deposit features: Dec 9 11PM ET Withdrawal features: Dec 10 12AM ET,” tweeted BitMart.
The other cryptocurrencies listed on BitMart are still paused for deposits and withdrawals. Users can’t transact the tokens. BitMart has not given a specific timeline on when they would resume transactions for all cryptos.
For investors, each day counts and the non-availability to transact their tokens will burn a hole in their pockets. Investors are paying the price for the crime done by hackers and the overall turn of events isn’t fair to users. In addition, even BitMart is facing the heat and losing millions by pausing transactions that’s bleeding their revenues dry.
Users are eagerly waiting for transactions to resume so they can get hold of their investments and bring it to safety. The exchange platform should act quickly and get things in order at the earliest.
BitMart Will compensate Affected Users With Company’s Own Funds
BitMart CEO Sheldon Xia confirmed that the exchange firm will compensate for the losses of its investors. He said the company will compensate from their own funds and relieve the burden from the investors’ chest.
The hackers made away with BabyDoge, SafeMoon, Saitama, Kishu, Dogelon Mars, Shiba Inu, CRO, Floki, SAND, among others.
“BitMart will use our own funding to cover the incident and compensate affected users. We are also talking to multiple project teams to confirm the most reasonable solutions such as token swaps,” he tweeted. “In terms of asset deposit and withdrawals, we are confident that deposit and withdrawal functions will gradually begin in December 7, 2021,” he said.
Even SafeMoon CEO John Karony worked closely with the BitMart team to “rectify the situation”. “Thank you @BitMartExchange team for working with me and my team to rectify this situation. #SAFEMOONARMY, When we receive more information, I will let you know. #SAFEMOON,” tweeted Karony.
Xia received praises from the investors’ community for planning to restore lost funds from the company’s own funds. A gesture where only a few in the market have done. Many a times, exchange platforms have washed their hands when hackers stole cryptos leaving investors high and dry.