BitMart hit by $391K hack amid security staff exodus

Crypto exchange BitMart was hacked for $391,000 this week as it struggles to retain its “severely understaffed” security team. Founder Sheldon Xia revealed that the hack took place on Monday and is one of “numerous attacks” it’s dealing with. Blockchain data firm Bitquery reports that $391,000 was stolen. Xia claims BitMart is doing everything it can to safeguard assets while managing a security team that he’s struggling to retain and has been left understaffed by restructuring. He claims threats from disgruntled users, as well as an ongoing conflict with former BitMart staff, including the company’s former head of marketing operations, “Elly,” have made it harder to persuade key technical staff to stay.

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