BitMart says security team is understaffed after new hack
BROBROK News · Based on reporting by Cointelegraph ·
BitMart founder Sheldon Xia said the exchange’s security team is severely understaffed after restructuring, following a new breach. Bitquery said it found about $391,000 in suspicious transfers tied to BitMart wallets and a wallet also linked to the Mercado Bitcoin hack.
Key points
- Xia said threats against employees and alleged retaliation from former staff made retention harder.
- Bitquery traced roughly $391,000 in suspicious transfers across three blockchains.
- The funds were linked to a wallet also implicated in the more than $46 million Mercado Bitcoin hack.
- BitMart has been under pressure since announcing plans to end trading and shut down operations in 2027.
- The exchange recently outlined restructuring options that could affect user recovery.
Why it matters
The incident highlights how staffing and governance problems can weaken exchange security during a period of transition. It also suggests possible links between separate exchange breaches, which can complicate incident response and user trust.
Original headline: “BitMart founder says security team ‘severely understaffed’ after new hack”
Read the original on Cointelegraph
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.