BitMart hacked, $391K stolen during staffing crisis

BitMart lost $391,000 in an attack Monday while grappling with what founder Sheldon Xia described as a severely understaffed security operation. Xia disclosed the breach as one of multiple incidents currently affecting the exchange.

Blockchain analytics provider Bitquery confirmed the $391,000 theft. Xia attributed staffing difficulties to threats from users whose funds remain inaccessible and to disputes with departed employees, including former marketing operations head Elly. These pressures, he said, have complicated efforts to retain technical personnel critical to platform security.

Exchange reverses closure, pursues restructuring under court oversight

BitMart announced in July that it would wind down operations by January 2027. Within weeks, the exchange abandoned that timeline in favour of restructuring. The platform is now advancing a court-sanctioned framework designed to offer withdrawal pathways for users with locked balances.

On Monday, advisory firms A&M and W&C convened a two-hour private session with the 50 largest account holders still holding funds on BitMart. Xia reported constructive responses and indicated a follow-up meeting would address specific restructuring terms.

Wave of exchange and cross-sector breaches

Brazilian platform Mercado Bitcoin reported a theft this week initially pegged at $36 million, though subsequent assessments placed losses above $46 million. Xia stated that BitMart's internal analysis points to overlap between the actors behind both incidents.

Binance sustained a $6.3 billion loss last week in an intrusion the FBI linked to North Korea. Attackers deployed fictitious job offers and malware-infected files to compromise employee credentials. Pyongyang rejected the attribution, characterising it as a US effort to damage its reputation.

French bank breach tied to crypto laundering channels

On-chain investigator ZachXBT identified Crédit Mutuel Arkea — a French institution overseeing $235 billion in assets — as the target of an attack that drained more than $133 million. ZachXBT had earlier flagged the case as a possible attempt to obscure the scope of the compromise.

Grégory Raymond, co-founder of The Big Whale, cited sources naming Fortuneo, a Crédit Mutuel Arkea subsidiary, as the affected entity. Stolen fiat was routed to crypto exchanges, converted and subsequently laundered. ZachXBT assessed that the perpetrators operate independently of North Korean groups.