BitMart Hack: SafeMoon CEO John Karony Working Closely with BitMart Team to ‘Rectify the Situation’

Vinod Dsouza
SafeMoon CEO John Karony working closely with BitMart team in regard to the hack
SafeMoon CEO John Karony working closely with BitMart team in regard to the hack.

SafeMoon CEO John Karony revealed that he’s working closely with the BitMart team to “rectify the situation” after the massive hack. Scamsters broke into BitMart’s systems and hacked close to $200 million worth of cryptocurrencies.

The scamsters sold all of the cryptos and vanished before leaving several investors’ portfolio turn to zero. The hackers made away with BabyDoge, SafeMoon, Saitama, Kishu, Dogelon Mars, Shiba Inu, CRO, Floki, SAND among others. However, the identity of the scamsters has not come to light despite the thieves selling off majority of the cryptos.

“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.

Karony also stated that he’s in touch was the senior staff at BitMart exchange. In addition, the SafeMoon CEO asked users to give the team time, room and opportunity to rectify the issue. “BitMart was hacked. We are working with them to rectify the situation. SafeMoon Products are safe (SWaP and Wallet).”

“I have been in constant comms the past 24hrs with senior staff at @BitMartExchange. This will take time. Please give BitMart some room and the opportunity to rectify. I am currently in the discord. Live information will come from there.” He continued, “For clarification, SafeMoon (company) was NOT hacked. BitMart was,” he said.

Moreover, the BitMart hack shocked the crypto sphere as to how easy it is to break into systems and steal millions. The hack is the biggest scam in recent memory and there’s no way to recover the amount from the fraudsters.

Events like these are disheartening and makes new investors fearful to enter the cryptocurrency market as it has no regulations.

SafeMoon: BitMart to Compensate Affected Users With Own Funds

The CEO of BitMart Sheldon Xia confirmed that the exchange firm will compensate for the losses of its users. Xia said that the compensation will be done from the company’s own funds and more details will be revealed soon.

“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.

At the time of publishing, SafeMoon was trading at $0.00000137 and is down -0.7% in the 24-hours day trade. The DeFi token is down -69.9% since the last 30-trading days.

Previous Post

Dogecoin to Plunge 95% in the Next Crash? Financial Expert Claims it’s Possible

Next Post
Dogelon Mars ELON UniSwap Token UNI

Dogelon Mars Flips Uni to Become the Most Traded Token Among the Top 1000 ETH Whales