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BitMart Reports Breach, Points to Suspects in Mercado Bitcoin Attackers

BitMart Reports Breach, Points to Suspects in Mercado Bitcoin Attackers

Bitquery traced approximately $391,000 in suspicious transfers from wallets linked to BitMart before the Brazilian exchange was attacked

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 4 November 2026 15:22 IST

BitMart Reports Breach, Points to Suspects in Mercado Bitcoin Attackers

Photo Credit: Unsplash/GuerrillaBuzz

BitMart founder Sheldon Xia confirmed the security incident through a post on X

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Highlights

BitMart confirmed its second security breach on November 2
The exchange has not disclosed its losses from the incident
BMX has lost more than 70 percent of its value

The cryptocurrency exchange BitMart has confirmed a second breach of its security systems on November 2, with its initial findings showing that the same hackers may be behind the latest hack of Brazil's Mercado Bitcoin. Sheldon Xia, founder of BitMart, made the following statement on X on November 3 regarding the breach. “Yes, we got hacked yesterday too,” he stated, adding that the amount hacked was tiny and that they were able to investigate the breach immediately and improve their security measures.

Blockchain Investigators Trace Suspicious Transfers Between Wallets Linked to Both Exchanges

The statement came after blockchain transactions revealed that funds had been moved from accounts related to BitMart to one related to the Mercado Bitcoin breach. This disclosure is being made in light of the BitMart restructuring that has been ongoing since its decision to stop trading in August, which has faced problems with customer withdrawals and financial troubles. According to Xia, the initial investigation by BitMart shows that the hackers behind the November 2 hack of BitMart could be the same people who attacked Mercado Bitcoin. This is because the Brazilian exchange was hacked on the same day in an elaborate security attack.

The blockchain researchers also identified suspicious transfers across multiple networks. The Bitquery blockchain analysis platform later found transactions in which wallets connected to BitMart had participated before the Mercado Bitcoin hack. In its on-chain investigation, Bitquery estimated that approximately $391,000 (roughly Rs. 3.6 crore) had been drained from wallets mostly linked to BitMart, beginning around 53 minutes before the larger attack.

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Another user, NeyLong, pointed out the transfer between BitMart wallets and the one holding assets from the Brazilian exchange. Several types of cryptocurrency were involved in those exchanges, and the activity in wallets gave early signs that the two thefts may be related. The loss amounts suffered by BitMart and the way in which hackers penetrated their wallet have not been disclosed by the exchange.

BitMart shut down its trading facilities on August 26, and its operation will come to a close on January 31, 2027. According to the shutdown process that was laid out, BitMart has ceased taking any new users or deposits, and futures trading has entered reduced-only mode and closed spot order books. According to data from CoinGecko, the native token of BitMart, BMX, has witnessed a depreciation of more than 70 percent in value due to reports of delays in the withdrawal of tokens by users of the platform.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Bitmart Hack, Crypto Scams, Crypto Security, Bitcoin

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More