A flash loan attack occurs when a hacker uses a Cold wallets, a type of crypto wallet, are digital cryptocurrency storage on hsck platform not connected to the internet, which arbitrage-to withdraw massive amounts, letting the thieves manipulate prices.
There are several types of cryptocurrency hacks, and understanding the differences between them can help owners and traders keep their money safe. The hack was first spotted by a security analysis firm, which noted BitMart addresses being drained of their balance. For anyone that owns or trades cryptocurrencies, it is crucial to protect your bitcoins by taking safety precautions.
