BitMart confirms minor breach potentially tied to Mercado Bitcoin exploit
BitMart founder Sheldon Xia confirmed the exchange suffered a minor security breach, citing severe security understaffing and a potential link to the attackers behind Brazil's Mercado Bitcoin.
BitMart founder Sheldon Xia confirmed that the cryptocurrency exchange suffered a minor security breach involving BitMart-linked wallets, stating that the platform moved quickly to investigate and bolster security. While Xia initially described the losses as a small amount without disclosing exact figures, crypto.news reported the confirmed breach totaled $391,000.[2][3][4][5]
Xia noted that preliminary findings suggest the intrusion may have been carried out by the same group responsible for an exploit targeting Brazilian exchange Mercado Bitcoin. Reported loss figures for the Mercado Bitcoin attack range from $38 million to $49 million, with The Block reporting a $46 million theft. According to on-chain tracking from Arkham Intelligence cited by Crypto Patel, the attackers moved $11.45 million in altcoins across multiple wallets for potential liquidation, including roughly $1.1 million in VIRTUAL sold in approximately $20,000 batches.[1][2][4]
Xia disclosed that recent restructuring left BitMart operating with a bare-bones core team and a severely understaffed security unit. He stated that technical personnel faced user threats, doxxing, and retaliation from disgruntled former employees, specifically citing former head of marketing operations Elly, which made engineers reluctant to stay while maintaining core platform systems.[1][2]
Key facts
- BitMart founder Sheldon Xia confirmed the exchange suffered a minor security breach involving platform-linked wallets.
- Crypto.news reported the confirmed breach amount at $391,000.
- BitMart's preliminary investigation indicates the attack may have been executed by the same group that targeted Brazilian exchange Mercado Bitcoin.
- The Mercado Bitcoin exploit resulted in losses estimated between $38 million and $49 million, with The Block reporting $46 million stolen.
- Arkham Intelligence identified $11.45 million in altcoins transferred to multiple wallets, including $1.1 million in VIRTUAL sold in $20,000 batches.
- Xia said internal restructuring, user threats, doxxing, and retaliation from disgruntled former employees left BitMart's security team severely understaffed.
Sources · 5 sources
- CP
Crypto Patel@CryptoPatelPost on X ·
BITMART HACK LINKED TO $49M MERCADO BITCOIN EXPLOIT? HACKER NOW LIQUIDATING STOLEN FUNDS @BitMartExchange founder Sheldon Xia confirmed a minor security breach, with preliminary investigations suggesting a possible connection to the attackers behind Mercado Bitcoin's $38M–$49M exploit. Meanwhile, Arkham Intelligence has identified fresh on-chain movements: 🔹 $11.45M in altcoins moved to multiple wallets for potential liquidation. 🔹 Around $1.1M in $VIRTUAL transferred to a new address, with sales occurring in approximately $20K batches. 🔹 The attacker reportedly still holds around $1M in VIRTUAL 🔹 BitMart's founder acknowledged severe security-team understaffing following internal restructuring. Two exchange security incidents, a potentially shared threat actor, and millions in stolen assets actively moving across wallets.
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
BitMart Founder: Exchange Hit by Minor Hack, Potentially Linked to Mercado Bitcoin Attackers Sheldon Xia, founder of crypto exchange BitMart, confirmed that the platform suffered a minor security breach yesterday, noting that swift investigative and security-strengthening actions were taken. Preliminary findings suggest the intrusion may have been executed by the same threat actors responsible for the simultaneous exploit targeting Brazil's major crypto exchange, Mercado Bitcoin. Xia disclosed that recent restructuring has left BitMart operating with a bare-bones core team facing severe understaffing across its security operations, exacerbated by doxxing, user threats, and retaliatory actions from disgruntled former employees, though the remaining staff is making every effort to protect remaining systems, user data, and platform assets.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: BitMart has confirmed a $391K wallet breach, possibly linked to Mercado Bitcoin attackers Founder Sheldon Xia says funds were stolen from BitMart-linked wallets, and investigators suspect the same group behind the Mercado Bitcoin theft. https://t.co/TTKyoU9goS
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: BitMart founder Sheldon Xia said the exchange was recently hacked for a small amount. Xia did not reveal the exact amount. Xia said the company suspects the attacker is the same group responsible for the $46 million theft from Brazilian exchange Mercado Bitcoin. https://t.co/53dtEEssEe
Open source - SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: BitMart hacked with minimal losses, founder says the attackers may be the group behind the Mercado Bitcoin attack
Open source