Crypto
Home›Crypto›Market Structure›BitMart withdrawals slow as exchange winds down operat…
BitMart withdrawals slow as exchange winds down operations
Wallet data cited by Lookonchain showed 58 wallets withdrawing about $805,000 over more than 24 hours, and no withdrawals processed in the prior eight-hour window tracked.
BitMart withdrawals appeared to slow after the crypto exchange announced it planned to wind down operations, with users reporting delays and freeze notices, Cointelegraph reported on July 27, 2026. Blockchain analytics account Lookonchain said that only 58 wallets withdrew about $805,000 in over 24 hours, and it added that BitMart had not processed any withdrawals during the latest eight-hour period it monitored.
Cointelegraph said X users continued to report withdrawal difficulties, including emails indicating USDT withdrawals were completed even though the transactions had not been processed and an “on-chain withdrawal freeze” appeared on the account. Another user reported a $30 test withdrawal remaining pending for more than 30 minutes, and Cointelegraph noted these claims could not be verified.
BitMart said withdrawals would remain available but warned requests may face additional compliance and security checks, including reviews of customer identities, login devices, withdrawal addresses, trading histories and sources of funds. The exchange may also request proof of identity, address, source of funds or ownership of the receiving wallet as part of the wind-down.
Cointelegraph also cited BitMart’s timeline and wallet balances, saying the exchange would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, and operations are expected to cease entirely on Jan. 31, 2027, while Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6.