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What lies ahead for victims of the BitMart and BadgerDAO heists — either full repayment or a total loss

Crypto markets suffered some serious shocks over the past few days. A big crash happened over the weekend, dragging bitcoin below $50,000. Around the same time, there were disclosures of two massive cyber attacks — one leading to the theft of nearly $200 million from cryptocurrency exchange Bitmart, and the other draining $120 million from decentralized finance platform BadgerDAO.  The market has started to recover from its drop, offering investors the opportunity to make up for their losses. Some victims of the heists, however, are likely to remain bruised. That’s because there are no legal mechanisms in the cryptocurrency industry that guarantee coverage for fraud, unlike for banks and securities brokers.

12.7.21   8:26 PM in Outcasts

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