BitMart confirms hot wallet breach potentially tied to Mercado Bitcoin hack
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
BitMart confirmed a November 2 hot-wallet breach that founder Sheldon Xia suspects involves the attacker behind the Mercado Bitcoin exploit. Bitquery estimated around $391,000 was drained from BitMart-linked wallets.
BitMart founder Sheldon Xia confirmed an unauthorized security breach affecting the exchange's operational hot wallets on November 2, 2026. According to crypto.news, Xia stated that preliminary investigations suggest the breach may have been carried out by the same attacker responsible for the recent exploit of Mercado Bitcoin. Blockchain analytics firm Bitquery estimated that approximately $391,000 was drained from wallets mostly linked to BitMart, starting about 53 minutes prior to the larger Mercado Bitcoin incident.
On-chain researchers traced transactions from BitMart-associated wallets to addresses controlled by the attacker involved in the Mercado Bitcoin attack. BitMart has not disclosed an official loss figure or explained how unauthorized access occurred, but the exchange is working with external blockchain intelligence teams to trace wallet activity across networks and coordinate with partner exchanges to intercept routed funds.
Xia stated that the company acted quickly to tighten security, though its security team remains severely understaffed following an operational restructuring and workforce reductions. The exchange halted trading in August and continues to handle unresolved customer withdrawal backlogs.
Key facts
- Hot wallets breached Nov. 2
- Est. $391,000 drained
- Linked to Mercado Bitcoin hack
- BitMart tracing routed funds
Read the original at crypto.news