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 help prominent cryptocurrency exchange, BitMart following its recent attack.
The crypto industry has time and again experienced hacks and attacks. Over the years, several notable exchanges have succumbed to hacks resulting in an immense loss. While some were able to recover and reimburse their customers, a few others have faded away. BitMart suffered a massive attack which further ended up causing damages of about $196 million.
The CEO of the firm, Sheldon Xia went on to confirm the attack via Twitter on Sunday. Detailing the nature of the loss, he tweeted,
The hack was discovered by a security analytics firm, Pecksheild Inc. The exorbitant amount of outflows reportedly raised suspicion. All the funds were sent out to an address that went by ‘Bitmart Hacker’.
Following this, an array of individuals, as well as platforms, came to the exchange’s aid. Huobi Global was one of the first prominent firms to extend support. The exchange noted that any traces of inflows of the assets involved in the hack would be reported.
The Shiba Inu community did not shy away from it as they affirmed that they would stand by BitMart.
Shiba Inu community extends support
In a recent tweet, Shiba Inu Twitter wrote,
“Dear #ShibArmy,
Even though the core of our project is decentralization, we want to show our support and give some love to our friends at
@BitMartExchange, who are already working hard to fix the security incident that happened yesterday.”
Several went on to laud the Shiba Inu community for its latest move.
Additionally, CEO Xia had previously stated that the exchange would start functioning normally from 7 December. The CEO also revealed that the team was working on securing the platform and compensating any affected users.