ICYMI: BitMart wins arbitration award over July 2021 hack
The owner-operator of crypto exchange BitMart has won an arbitration award over a July 2021 hack that drained it of $6 million.The owner-operator of crypto exchange BitMart has won an arbitration award over a July 2021 hack.
In July of last year, the 92 respondents named in the arbitration registered accounts with BitMart before carrying out a 51% attack of the BSV blockchain. In this type of attack, users take over the mining capabilities of a blockchain, leveraging more than half of the mining power, which allows them to mine faster than other users and affect transactions.
Arbitrator Dani Schwartz awarded damages for each withdrawal of crypto from a respondent account to be paid within 45 days of the award. The exact amount is worked out as follows:
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