Radar / Crypto-asset service provider

BitMart

Crypto-asset service provider bitmart.com ↗

Automated profile · 2026-11-05 Checking public sources…

Amberoverall

Reviewed 2026-11-05

Our verdict · Provisional – 1 of 6 checks done

Be careful

Some important points are unclear or concerning.

  • Reported concern (2026-11-02): BitMart confirmed a security breach on 2 Nov 2026. Blockchain analytics firm Bitquery estimated about $391K in suspicious transfers, and …
○Licensed for what it does?Not checked yet
○Warnings or fines from regulators?Not checked yet
○Owners known and transparent?Not checked yet
!Customer complaints?Some

What should I do?

  1. Check the licence yourself in the official register of the country where it operates.
  2. Start small – never send more than you can afford to lose.
  3. Keep screenshots of all payments and conversations.

Based on public sources at the date of review. Not a finding that the company acted unlawfully; the company can respond below.

Questions about BitMart

Is BitMart safe to use?

RatEx42 rates BitMart Amber (provisional, 1 of 6 checks done) as of 2026-11-05: some important points are unclear or concerning. The signal is an assessment of public information, not a finding of unlawful conduct and not advice. Always check the licence in the official register yourself.

Are there complaints about BitMart?

Reported concern (2026-11-02): BitMart confirmed a security breach on 2 Nov 2026. Blockchain analytics firm Bitquery estimated about $391K in suspicious transfers, and founder Sheldon Xia said the attackers may be linked to the Mercado Bitcoin hack.

Answers are generated from this profile (reviewed 2026-11-05). Sources are linked in “The full check” below.

About

BitMart confirmed a security breach on 2 Nov 2026. Blockchain analytics firm Bitquery estimated about $391K in suspicious transfers, and founder Sheldon Xia said the attackers may be linked to the Mercado Bitcoin hack. Xia also said the security team is severely understaffed after restructuring. Cointelegraph reports users described delayed withdrawals and frozen accounts since BitMart announced a wind-down in July 2026. BitMart halted trading on 26 Aug 2026, and its restructuring is reported to be unresolved. This profile was created from public reports (news, official statements and public posts) by the RatEx42 early-warning search; the concerns are allegations as reported and have not yet been reviewed in full. The company can respond below.

Read more

BitMart confirmed a security breach on 2 Nov 2026. Blockchain analytics firm Bitquery estimated about $391K in suspicious transfers, and founder Sheldon Xia said the attackers may be linked to the Mercado Bitcoin hack. Xia also said the security team is severely understaffed after restructuring. Cointelegraph reports users described delayed withdrawals and frozen accounts since BitMart announced a wind-down in July 2026. BitMart halted trading on 26 Aug 2026, and its restructuring is reported to be unresolved. This profile was created from public reports (news, official statements and public posts) by the RatEx42 early-warning search; the concerns are allegations as reported and have not yet been reviewed in full. The company can respond below.

The full check

🪪LicenceLicensing & registrationNot checked yet

Not yet assessed.

👥Who owns itOwnership & controlNot checked yet

Not yet assessed.

🏦Where your money goesBanking & payment chainNot checked yet

Not yet assessed.

⚖️Regulator actionsRegulatory actionsNot checked yet

Not yet assessed.

📰News & reputationAdverse media & OSINTNot checked yet

Not yet assessed.

💬Customer experienceCustomer conductCaution

Reported concern (2026-11-02): BitMart confirmed a security breach on 2 Nov 2026. Blockchain analytics firm Bitquery estimated about $391K in suspicious transfers, and founder Sheldon Xia said the attackers may be linked to the Mercado Bitcoin hack. Xia also said the security team is severely understaffed after restructuring. Cointelegraph reports users described delayed withdrawals and frozen accounts since BitMart announced a wind-down in July 2026. BitMart halted trading on 26 Aug 2026, and its restructuring is reported to be unresolved.

How we rate: methodology.

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Version history

  • 2026-11-05 Amber signal Automated profile created from public sources

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