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Odaily News: Sheldon Lee, founder of cryptocurrency exchange BitMart, stated that a post on X claiming users were unable to withdraw funds and that some employees had not received their July salaries is a "fabricated rumor," adding that the exchange's Chinese-language account had been hacked. Critics, including users and on-chain investigator ZachXBT, have demanded that BitMart resume withdrawals or undergo an independent third-party audit. BitMart is gradually winding down operations, with the final trading day set for August 26. Troubled investment firm Echo Base said it had proposed a funded restructuring plan to BitMart but received no response. The firm warned that resolving a large volume of customer claims may require proceedings through the courts. (CoinDesk)
BitMart founder Sheldon stated that, after verification, the official BitMart Chinese account has been hacked, and the relevant content was not published by current employees.
BitMart Exchange Founder Sheldon posted a statement addressing recent user withdrawal difficulties and unpaid employee salary issues, stating that the core team is still conducting asset inventory, asset consolidation, and system maintenance, and denied any misappropriation of assets, front-running, or exit actions.
crypto exchange BitMart announced it will gradually wind down its trading platform business after nine years of operation. The platform halted new user registrations, deposits, and order placements at 01:30 UTC on July 26. All spot and derivatives trading will cease on August 26, and the platform is scheduled to officially shut down on January 31, 2027. BitMart stated that withdrawals will remain open, but checks related to identity, devices, sanctions, and funding sources may slow processing speeds. The company attributed the closure to its operational status, market conditions, and future strategic direction. Its native token, BMX, has fallen 81% over the past week to $0.057, bringing its market cap down to $19.6 million. BitMart previously suffered a loss of $196 million in December 2021 due to a hot wallet vulnerability, and covered the customer losses. Perpetual contract platform BitMEX also recently announced it will shut down after 11 years of operation, making BitMart the second major crypto exchange to announce a closure within a week.