Indian crystals show trellis of subhedral magnetite hosting maghemite in sharp contact with interstitial hematite crystals, which suggests exsolution along parting planes. grain boundary migrations within the hematite point to dynamic crystallization during deformation. Dislocations and fluid inclusions in hematite reflect its precipitation related to a hydrothermal event. In the Brazilian martite, dislocations are observed and maghemite occurs as Insel structures and nano-twin sets. The latter, typical for the hematite, are a transformation product from maghemite into hematite. For both samples, a deformation-induced hydrothermally driven transformation from magnetite via maghemite to hematite is proposed. The transformation from magnetite into maghemite comprises intermediate non-stoichiometric magnetite steps related to a redox process. This study shows that martite found in supergene environment may result from earlier hypogene processes.