BitMart security breach: $391,000 in transfers may link to Brazilian exchange hack

A BitMart security breach on November 2, 2026, involved a relatively small amount of funds, founder Sheldon Xia said, as preliminary findings pointed to a possible link with the Mercado Bitcoin hack. The incident hit an exchange already dealing with suspended trading, unresolved customer withdrawals and a severely understaffed security team. Key takeaways Bitquery traced approximately $391,000 drained from wallets mostly linked to BitMart. Xia described staffing shortages following restructuring and employee disputes. Mercado Bitcoin reported about $38 million involved and around $11 million blocked. BitMart’s restructuring proposal cites approximately $319.5 million lost in December 2021.