In 2019, a company in Brazil was hacked by cybercriminals. The hackers used an AI-generated hack to gain access to the company’s digital infrastructure. Bitmart, a cryptocurrency trading platform based in Brazil, was hacked by cybercriminals in 2019 and the hacker used an AI-generated hack to gain access to the digital infrastructure of the company. The Brazilian cybercrime group that targeted Bitmart has been identified as being responsible for other high profile data breaches such as the recent theft at global clothing retailer H&M that resulted in more than half a billion dollars worth of losses. Bitmart is one of the largest cryptocurrency exchanges in Africa. They have been attacked twice by hackers who stole approximately 10 million US dollars worth of crypto. For the first time, hackers used a blockchain-based distributed ledger technology to conduct an attack. This led to Bitmart’s inability to identify the attackers and stop them from stealing money from their users.
The technology that was used for this attack is called the “blockchain-based distributed ledger.” It’s a type of digital ledger that can be shared across many computers to create an incorruptible record which cannot be altered retroactively without being noticed by all participants in the network. The Bitmart Hack was a cyberattack that resulted in the theft of over $16 million worth of cryptocurrencies from BitMart, an online store for cryptocurrency. This hack occurred on January 24th 2018 between 3:30 and 3:35 pm UTC. The Bitmart Hack was an online theft of cryptocurrency from the Bitmart exchange, a South African bitcoin trading platform. This was the first recorded example of a cyberattack where hackers were able to steal cryptocurrency in this way. This attack served as a reminder that digital currencies are just as vulnerable as cash, and without proper security measures, any crypto-asset could be stolen by hackers.
In April 2019, the United States Justice Department announced that it would investigate the hack and determine whether or not they had been involved in any wrongdoing. The Bitmart Hack was a cyberattack that took place in January 2018. The hacker stole $3.1 million worth of cryptocurrency from the exchange. The Bitmart Hack is an example of how hackers are targeting online exchanges in addition to individual users. It is also an example of how digital exchanges and cryptocurrencies are a growing target for hackers, who may have more sophisticated tools to attack these platforms than the average individual user.
