BitMart Founder Reports Staff Shortage After Hack

Cryptocurrency exchange BitMart faced a shortage of security staff following a new hacker attack on November 2, 2026. The platform's founder, Sheldon Xia, confirmed the breach and suggested it might be linked to the attack on the Brazilian exchange Mercado Bitcoin. The exact amount of BitMart's losses has not yet been disclosed.

Xia explained the staffing issues with business restructuring, threats against employees, and alleged retaliatory actions by former staff. According to him, the company had to conduct individual negotiations to retain some key technical specialists and ensure the operation of core systems. “Our security team is currently experiencing a significant staff shortage, but we are still doing everything possible to protect data and assets,” Xia stated.

Analysis of Transfers Reveals Possible Link Between Two Attacks

An examination of transactions across three blockchains revealed suspicious transfers of approximately $391,000 from wallets predominantly associated with BitMart. The funds were sent to an address that also appeared in the attack on Mercado Bitcoin on November 2. More than $46 million was withdrawn as a result of that incident.

These data suggest a possible connection between the breaches but do not prove that the same perpetrators are behind them. Furthermore, the ownership of all affected wallets by BitMart has not been confirmed by the exchange itself. Xia described the amount involved in the attack as small but did not provide specific figures. Therefore, the assessment of suspicious transfers cannot be automatically considered as confirmed damage to the platform.

Restructuring Complicates BitMart's Situation

Back in July, BitMart announced the cessation of trading from August 26 and the planned closure of the trading platform in January 2027. Following this, users reported delays in fund withdrawals and account blockages. In August, accusations of unpaid salaries appeared through the exchange's Chinese-language account. Xia denied them, but who controlled the account at that time remained unclear.

In a preliminary restructuring plan presented on September 30, the exchange proposed three options for settling obligations to users. They involve distributing available liquid assets or receiving tokens linked to possible fund recovery or other company assets. BitMart plans to apply to the court for plan approval in December 2026 or January 2027. The final terms and timing of payments have not yet been confirmed.