BitMart Founder Blames Staff Shortage After Second Hack Linked to Mercado Bitcoin Attackers

TLDR BitMart founder Sheldon Xia confirmed a hack on November 2 and called the loss small. Bitquery traced about $391,000 in outflows from BitMart-linked wallets to an address used in the Mercado Bitcoin attack. Xia said BitMart’s security team is severely understaffed after restructuring and staff departures. Mercado Bitcoin’s reported losses range from $36.3 million to $49 million, depending on the source. BitMart plans to adjust its restructuring proposal in November and seek court applications in December 2026 or January 2027. BitMart has confirmed a second security breach, and the exchange says its own staffing problems made defense harder. Founder Sheldon Xia posted about the incident on X on November 3. The hack took place on November 2.

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