BitMart unveils settlement plan for victims of 2021 hack
- —The December 4, 2021 hack cost BitMart about $319.5 million, including $164.1 million in ETH and $96.5 million in BNB
- —Balances will be converted to dollars using a weighted average price from July 26, 2026 to an undetermined date
- —Option one is a proportional payout in fiat, stablecoins, BTC, ETH and SOL
- —Option two is a recovery token issued 1:1 per dollar of balance and backed by assets clawed back from the hack
Why it matters: The plan sets a precedent for repaying users after a major exchange hack, though actual payouts hinge on court approval and asset valuations.
Source: TokenPost