BitMart Users Scramble as Withdrawals Stall and Token Crashes 81%
TLDR
- BitMart announced it will fully cease operations by January 31, 2027
- Only 58 wallets withdrew around $805,000 in 24 hours after the wind-down announcement
- BMX token dropped 81.5% in seven days, trading near $0.057
- Global CEO Nathan Chow said he was not consulted on the decision and was told he was being fired on July 24
- Exchange wallets hold around $69 million in crypto, down from $102 million on July 6
Crypto exchange BitMart is winding down after eight years of operation. The exchange stopped accepting new registrations and deposits on Saturday, with all trading set to end on August 26, 2026. The platform plans to shut down entirely on January 31, 2027.
Important Notice
After a careful evaluation of the Company's operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to makeโฆ pic.twitter.com/KX3zczIrAh
- BitMart (@BitMartExchange) July 26, 2026
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