UPDATE: BitMart confirms $391,000 hot-wallet drain across Layer-2 chains
CIE News ·
Update to BitMart confirms hot wallet breach potentially tied to Mercado Bitcoin hack
Based on reporting by Bitcoin.com News; not yet independently confirmed.
BitMart confirmed unauthorized outflows of $391,000 across Arbitrum, Optimism, and Base following security audits, linking the breach to an understaffed team during restructuring.
Security audits conducted between November 4 and November 5 confirmed that unauthorized outflows of $391,000 were drained from BitMart hot wallets across Arbitrum, Optimism, and Base. As previously reported when BitMart confirmed an initial security breach in its operational wallets, the platform has been investigating unauthorized transfers that coincided with an attack on Brazilian exchange Mercado Bitcoin.
BitMart founder Sheldon Xia confirmed the breach, stating that the intrusion exploited security gaps after restructuring left the defense team understaffed. According to crypto.news, Xia acknowledged that staff departures and disputes with former personnel had challenged technical operations, leaving the security team severely understaffed as it sought to retain key personnel.
On-chain analysis linked the breach to the broader $38 million to $48.6 million attack on Mercado Bitcoin through shared infrastructure compromises. Bitquery estimated that the $391,000 drain from BitMart wallets began roughly 53 minutes before the larger exploit, with stolen assets sent to the same attacker-controlled addresses. BitMart is tracing the affected funds alongside external blockchain intelligence teams while creditors evaluate the recovery status.
Key facts
- $391,000 drained
- Arbitrum, Optimism, Base
- Understaffed amid restructure
- Linked to Mercado Bitcoin hack
Read the original at Bitcoin.com News