BitMart founder Sheldon Xia has confirmed that the cryptocurrency exchange suffered a security breach on November 2, with initial findings suggesting the attackers could be linked to the Mercado Bitcoin hack reported on the same day. Blockchain analytics platform Bitquery traced approximately $391,000 in suspicious withdrawals from wallets mostly associated with BitMart, beginning 53 minutes before the larger attack. The exchange has not disclosed its total losses or how the attackers gained access. The incident comes as BitMart prepares to shut down its operations by January 31, 2027.
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