BitMart founder says security team ‘severely understaffed’ after new hack
BitMart founder Sheldon Xia said the exchange’s security team is severely understaffed after restructuring and employee-retention problems, following a new hack. Bitquery identified about $391,000 in suspicious transfers across three blockchains and traced funds to a wallet also linked to the $46 million Mercado Bitcoin hack, though a connection remains unconfirmed. BitMart had previously announced plans to halt trading and cease operations in January 2027; it has proposed three user-recovery options and plans to seek court approval in December or January. Separately, the T3 Financial Crime Unit, formed by Tron, Tether and TRM Labs and later joined by Binance, reportedly disbanded in late August amid coordination problems. It said it had helped freeze over $450 million in assets since launching in 2024.
