BitMart Founder Says Security Team Is Severely Understaffed

According to Cointelegraph, Sheldon Xia, founder of crypto exchange BitMart — which has announced its shutdown and restructuring — stated in a post that following the latest hack, the platform’s security team is "severely understaffed" but remains committed to safeguarding user data and assets. Xia confirmed a new attack occurred on Monday, noting the amount involved is small without disclosing specific figures. Blockchain analytics firm Bitquery’s investigation found approximately $391,000 in suspicious transfers from BitMart-associated wallets across three blockchains; the funds are linked to wallets involved in the November 2 theft of over $46 million from Brazilian exchange Mercado Bitcoin, supporting the initial assessment that the same group may be responsible. Xia also added that threats targeting employees and alleged retaliation by former staff have made retaining key technical positions more difficult. BitMart previously announced in July it would halt trading on August 26 and cease operations in January 2027. The restructuring plan unveiled Monday includes three user recovery options: liquid asset distribution, recovery-linked tokens, and others, with plans to seek court approval in December or January.