BitMart Confirms Hack Linked to Threat Group Behind Mercado Bitcoin Exploit

Cryptocurrency exchange BitMart confirmed it suffered a security breach on November 2, losing approximately $391,000 from wallets across the Base, Arbitrum, and Optimism networks. Blockchain data indicates the funds were drained 53 minutes before a major attack on Brazilian exchange Mercado Bitcoin, which lost between $38 million and $49 million to the same perpetrators. BitMart founder Sheldon Xia attributed vulnerability to a severely understaffed security team amid corporate restructuring. The breach occurs as BitMart winds down operations ahead of a planned full closure on January 31, 2027, following a previous trading halt in August.