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BitMart to wind down exchange, ending trading on Aug. 26
The exchange plans to stop accepting deposits and new orders, with futures moving to reduce-only mode before it ceases operations on Jan. 31, 2027.
Crypto exchange BitMart said it will wind down its trading platform, ending all trading services on Aug. 26 before ceasing operations entirely on Jan. 31, 2027, according to Cointelegraph.
Under the shutdown plan, BitMart will stop accepting new user registrations and deposits. Futures trading will enter reduce-only mode, and spot markets will no longer accept new orders.
BitMart’s native token, BMX, has fallen sharply, losing nearly 70% of its value after the announcement as users reported withdrawal delays. At the time of writing, BMX traded around $0.0946, down from about $0.31 late Friday.
Cointelegraph also reported that some users on social media said withdrawals were taking longer than usual, with Tether USDt (USDT) requests remaining pending for hours. Arkham data cited in the article showed wallets attributed to BitMart held about $71 million in crypto assets on Sunday, down from roughly $102 million on July 6.