TREE NEWS update: BitMart founder confirmed a hack during the exchange’s restructuring, with Bitquery tracing about $391,000 in outflows mostly from BitMart-linked wallets to an address used in the Mercado Bitcoin attack. The on-chain data links the outflows to infrastructure previously involved in the Mercado Bitcoin incident.
BitMart Founder Confirms Hack During Restructuring
The detail that matters here is attribution, not the dollar figure: Bitquery tying the outflows to an address already used in the Mercado Bitcoin attack suggests shared infrastructure or actors rather than an isolated breach, which raises questions about how the restructuring period was secured. A hack disclosed by the founder during a restructuring is also a governance signal, since exchanges in transition often have weakened controls and less clear accountability. Whether the traced link holds up under further on-chain review, and how the restructuring proceeds alongside incident response, is the open question.
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