BitMart loses $391K to hackers as security team dwindles

An attack this week siphoned $391,000 out of crypto exchange BitMart, which is trying to keep its “severely understaffed” security team from leaving.

Founder Sheldon Xia said the breach took place on Monday and is one of the “numerous attacks” the platform is dealing with.

Blockchain data firm Bitquery puts the amount stolen at $391,000.

Xia claimed BitMart is doing everything in its power to safeguard assets, even as he wrestles with a security team that restructuring has left understaffed and that he is finding hard to keep.

He claimed threats from disgruntled users and a running conflict with former BitMart staff — among them “Elly,” previously the head of marketing operations — have made it harder to persuade key technical staff to stay.

BitMart breach follows shutdown pivot

Last July, BitMart announced plans to close its operations by January 2027. Weeks later, it halted that shutdown and instead put forward a “restructuring plan.”

This Monday, A&M and W&C held a two-hour closed-door meeting with the top 50 users who still have funds on the platform. We received a great deal of positive feedback following the meeting. We expect to arrange a follow up meeting soon to discuss the restructuring proposal and…

— Sheldon (@sheldonbitmart) November 3, 2026

It is now pursuing a court-sanctioned plan that aims to give users whose funds are tied up on the exchange a variety of exit options.

Hack season rolls on for crypto

Brazilian exchange Mercado Bitcoin was also targeted this week. It claimed $36 million in crypto was stolen, while some reports put the loss at more than $46 million.

Xia claimed BitMart’s findings indicate that the same attacker or attackers hit both BitMart and Mercado Bitcoin.

Binance was also hit last week, losing $6.3 billion in a North Korea-linked attack that used fake job interviews and malware-laden software to obtain employee credentials.

North Korea denied responsibility, suggesting the FBI’s attribution is a US attempt to damage its image.

Identity of hacked French bank revealed

In addition to the crypto exchange hacks, blockchain sleuth ZachXBT revealed today that a French bank managing $235 billion in assets was attacked as well.

An incident that ZachXBT had earlier described as a possible cover-up cost Crédit Mutuel Arkea more than $133 million.

Grégory Raymond, a co-founder of The Big Whale, claimed his sources showed that the affected arm was Crédit Mutuel Arkea’s Fortuneo bank.

The attackers, who ZachXBT believes are not linked to North Korea, reportedly sent the dollar amounts to crypto exchanges, where the funds were converted into crypto and laundered.