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Sharp, ongoing shutdown losses… What is happening on the crypto exchange BitMart?
Crypto exchange platform BitMart announced that it will begin winding down its operations gradually after a sharp drop in the value of its BMX token and complaints from users about delayed withdrawals.
Under the shutdown plan, all trading services will stop on August 26, 2026, and the platform will fully end its operations on January 31, 2027.
BitMart has already halted new user registrations and stopped accepting deposits. Meanwhile, its futures trading contracts are in a mode that allows only the closing of existing positions, while the spot trading markets have stopped accepting new orders.
This development came after the BMX token fell by about 70% in a short period, alongside reports of delayed withdrawals of some assets, including USDT.
The platform explained that some withdrawal requests may be subject to additional reviews related to compliance and security, which could increase processing time.
BitMart thus joins a number of crypto platforms that have announced closing their operations in recent days amid the challenges facing the sector.
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