BitMart unveils repayment plan for victims of 2021 $319.5M hack

Crypto exchange BitMart has unveiled a preliminary restructuring plan tied to the roughly $319.5 million hack in December 2021, according to Crypto Briefing. The exchange plans to convert users’ holdings into U.S. dollar terms based on the weighted average price on July 26, then offer either pro rata repayment using available liquid assets or conversion into newly issued tokens. Cash and stablecoin payouts are also possible. BitMart plans to seek court approval between December and January 2027, and the repayment plan will not be finalized before approval.