BitMart Founder Confirms Hack During Restructuring

BitMart founder Sheldon Xia confirmed a hack during an ongoing restructuring after Bitquery traced roughly $391,000 in outflows, mostly from wallets linked to the exchange, to an address also used in the Mercado Bitcoin attack. The on-chain sleuthing points to a shared attacker address tying the two incidents together, though the amount is modest relative to the exchange's overall holdings. The disclosure comes as BitMart works through a corporate restructuring, adding operational uncertainty on top of the security breach. Why it matters: the link to Mercado Bitcoin suggests the same actor may be targeting multiple venues, raising questions about whether the BitMart drain is part of a broader campaign. What to watch next: whether BitMart quantifies total losses and publishes a reimbursement plan, and whether the flagged address accumulates further outflows from other exchanges.