BitMart founder: Security team is severely understaffed.

BitMart founder Sheldon Xia said Wednesday the exchange’s security team is severely understaffed after confirming a fresh hack, with staff intimidation and alleged retaliation by former employees complicating retention. Xia called Monday’s loss small without giving a figure, while blockchain analytics firm Bitquery traced about $391,000 in suspicious transfers from BitMart-linked wallets across three blockchains to a single address also tied to Mercado Bitcoin’s over $46 million hack on Nov. 2. The incident adds security strain at an exchange already winding down, having announced in July that it would end trading on Aug. 26 and cease operations in January 2027. The small headline loss contrasts with the larger Mercado Bitcoin exposure linked through the shared wallet, making the tracing of that address the key item to watch.