BitMart is talking about reopening before it has answered the withdrawal question

BitMart is exploring a restructuring that could allow parts of the crypto exchange to resume operations, offering an alternative to the full wind-down announced last month as customers continue to report difficulties withdrawing their assets.

On Aug. 21, the exchange said a potential restructuring plan could include a phased resumption of some services alongside distributions to creditors, subject to further legal, financial, operational and regulatory review.

BitMart has appointed White & Case as restructuring counsel and said it expects to provide another update by Sept. 9.

Still, this new proposal does not change the exchange’s immediate timetable.

BitMart is scheduled to discontinue spot, futures and other trading services at 01:00 UTC on Aug. 26. Users have also been strongly encouraged to submit withdrawal requests before 05:00 UTC that day, though the exchange has said the latter is a recommended time rather than a hard cutoff.

The deadline comes as BitMart faces growing scrutiny from customers who say withdrawal requests have been frozen, delayed or left unresolved.

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