BitMart Founder: Security Team Severely Understaffed

On November 5, according to Cointelegraph, BitMart founder Sheldon Xia stated on Wednesday that following the confirmation of a new hacking incident, the company's security team is currently severely understaffed. Xia posted on the X platform that threats against employees and alleged retaliation from former staff have increased the difficulty of retaining technical personnel. He described the amount involved in Monday's attack as relatively small but did not disclose specific figures.

Blockchain analytics firm Bitquery investigated on Wednesday and found that approximately $391,000 in suspicious transfers originated from wallets mainly associated with BitMart across three blockchains, with the funds traced to a single wallet also connected to the over-$46 million hacking attack on Mercado Bitcoin on November 2. BitMart had previously announced in July that it would halt trading on August 26 and completely cease operations in January 2027.