Summary

  • BitMart confirmed a November 2 2026 wallet breach that drained roughly $391,000.
  • Blockchain tracing directly connects the stolen funds to wallets used in the larger Mercado Bitcoin incident.
  • The exchange now operates with a severely understaffed security team following the attack.

BitMart confirmed on November 5 2026 that it lost about $391,000 in a wallet breach on November 2. The exchange stated that on-chain records tie the transfers to addresses involved in the much larger Mercado Bitcoin theft. This marks the second reported security failure at BitMart within a short period.

The incident unfolded days after the Mercado Bitcoin breach.

Analysts estimate that theft at $49 million across multiple chains. Responders have frozen roughly $10 million of those funds so far. The shared transaction trail raises the possibility that one group targeted both platforms.

Context

Crypto exchange security has come under renewed pressure after a string of high-profile incidents in late 2026. The Mercado Bitcoin attack alone affected 17 blockchains and prompted quick coordination among on-chain analysts and stablecoin issuers.

BitMart now faces similar questions about how its internal controls failed to stop a related drain.

Reports show the exchange had already stretched its security team thin before the November 2 incident. This staffing shortfall limited its ability to monitor wallets in real time or respond quickly once funds began moving.

Details

Blockchain analysis shows that funds taken from BitMart wallets flowed to addresses previously linked to the Mercado Bitcoin theft. One source reports the BitMart loss at approximately $424,000, while the exchange itself cites $391,000.

Neither platform has officially confirmed that the same actors carried out both attacks.

"BitMart confirms November 2 hack, about $391,000 stolen. Blockchain tracing links transfers to wallet tied to Mercado Bitcoin."

, newscord.org (Source)

The breach highlights persistent gaps in crypto exchange security. Past incidents, including the 2026 Binance event, showed that on-chain freezes can recover only a fraction of stolen assets.

BitMart's limited security resources appear to have left similar recovery options constrained.

Outlook

BitMart continues to investigate the scope of the loss while working with responders to trace remaining funds. The exchange's next steps will likely focus on rebuilding its security team and tightening wallet controls ahead of any further regulatory review.