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What is BITMART
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BitMart was founded in 2017 to provide digital asset trading and investment services to a global customer base. It is incorporated in the Cayman Islands.
In 2018, BitMart launched the BitMart Token (BMX), which provides token holders with trading discounts and other benefits on the exchange. The exchange also added numerous new features over the years, including staking, lending, savings products, and derivatives trading.
In December 2021, BitMart suffered a security breach that led to the loss of $196 million worth of cryptocurrency when private keys were compromised for two of the trading platform's hot wallets. Following the incident, the company's CEO, Sheldon Xia, announced on Twitter that all affected users would be reimbursed by BitMart.
Today, the global crypto exchange serves over 9 million users in over 180 countries.