BitMart Founder: Security Team Facing Staff Shortages

The founder of the BitMart exchange reported a shortage of security personnel at the exchange following a recent hack. This hack may be related to the recent attack on the Mercado Bitcoin exchange. Sheldon Shia, the founder of BitMart, stated that threats against employees and retaliatory actions from former staff have made it difficult to retain technical personnel. He added, "Convincing some key technical staff to stay requires significant effort. Our security team is severely understaffed, but we are working to protect data and assets." Shia described the amount stolen in the recent hack as negligible but did not provide a specific figure. Investigations revealed that approximately $391,000 in suspicious transfers from wallets associated with BitMart had been identified. These funds were traced to a wallet that was also involved in the $46 million hack of the Mercado Bitcoin exchange. This security breach occurred while BitMart is undergoing restructuring and had announced in July that it would cease trading and stop operations in January 2027.

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