BitMart Announces Global Shutdown Amid Compliance Concerns

BitMart has announced its global shutdown, effective August 26, after reviewing its operating conditions and market environment. The exchange will cease all trading services by then and fully stop operations in January 2027.

Users are advised to close positions and request withdrawals early as compliance checks could delay asset processing. Withdrawal requests may undergo identity, sanctions, source-of-funds, and wallet-ownership checks before assets are released.

The shutdown marks a reversal of BitMart's July growth message and follows earlier product restrictions. BMX token fell 58.5% in seven days to about $0.1285 as most token activity remained tied to BitMart markets.

Earlier this year, the exchange faced significant challenges after compromised private keys exposed two hot wallets and allowed attackers to remove an estimated $196 million in cryptocurrencies.