BitMart Announces Shutdown After 9 Years
BitMart has announced it will shut down its global cryptocurrency exchange after 9 years of operation. The company cited a review of its operating conditions, market environment, and future strategic direction as the reason for this decision.
The platform will cease operations at 1559 UTC on January 31, 2027. In preparation for this closure, trading has already entered a phased restriction phase, with new account openings blocked from July 26 and cryptocurrency and cash deposits suspended.
BitMart's exchange token, BMX, fell about 60 percent after the announcement, showing the impact of the shutdown on user trust in the platform. Binance founder Changpeng Zhao noted that BitMart is winding down in an orderly manner to allow users to withdraw their assets before January 31, 2027.
Users are advised to complete or renew identity verification procedures and close all cryptocurrency positions by August 26, when security features will be updated. Withdrawal screening may become more stringent, with BitMart checking account ownership verification and other factors before allowing withdrawals.