Huobi and Shiba Inu Community Unite to Aid BitMart After $200M Hack
Following a near-$200-million hack on the BitMart exchange, the Shiba Inu (SHIB) community and crypto exchange Huobi Global aim to help the exchange strengthen security and track inflows. The BitMart fiasco showed some vulnerabilities of centralized cryptocurrency exchanges. But Huobi and Shiba Inu communities vowed to help.
The Shiba Inu [SHIB] community popularly known as ShibArmy has been all over the news for their loyalty and constant support for the meme coin. Now, the community has come together to assist BitMart after hackers compromised the platform on Ethereum and a Binance Smart Chain, making away with $200 million in diverse assets.
Over the weekend, hackers made away with nearly $200 million in 20 different tokens. Following a near-$200-million hack on the BitMart exchange, the Shiba Inu (SHIB) community has joined forces with Huobi Global exchange in order to help Bitmart trace and recover the stolen funds, offering assistance after the shocking $196m hack.
Huobi and the Shiba Inu community are working to help BitMart strengthen its security infrastructure and track the movement of the stolen crypto tokens. Their combined efforts aim to mitigate further damage and potentially recover some of the stolen assets. This collaborative spirit highlights the resilience and interconnectedness of the cryptocurrency community.