BitMart suffers $391,000 hack amid severely understaffed security team
Image: CointelegraphBitMart confirmed a hack that moved roughly $391,000 from its wallets. Founder Sheldon Xia said the exchange's security team is severely understaffed after recent restructuring. Blockchain analytics linked the stolen funds to a wallet also tied to the larger Mercado Bitcoin breach. BitMart had announced a shutdown for January 2027 but later paused the plan to pursue restructuring.
Key points
- Founder Sheldon Xia said the exchange's security team is severely understaffed after restructuring.
- Blockchain analytics traced the stolen funds to a wallet also involved in the Mercado Bitcoin hack.
Why it matters
The breach highlights risks from limited security staffing and may affect user confidence in BitMart's ability to protect assets during its restructuring.
What's unclear
The founder described the stolen amount as small without giving a precise figure, while reports cite approximately $391,000.
It remains unconfirmed whether the same attackers carried out both the BitMart and Mercado Bitcoin hacks.
Price context · BTC
At publication
$80,777.00
Now
$80,517.00
Change since
−0.32%
7 days · dashed line = publication
Sources · 3 publishers
Protos
Tier 2
BitMart hit by $391K hack amid security staff exodus
Cointelegraph
Tier 1
BitMart founder says security team ‘severely understaffed’ after new hack
Coverage timeline
- First reported by The Defiant
- Also reported by Protos
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
