BitMart Announces Shutdown After Nine-Year Run

Crypto exchange BitMart has announced it will shut down after nine years in operation. All trading will stop on Aug. 26, with the platform fully closing on Jan. 31, 2027.

The exchange's native token BMX fell nearly 70% following the announcement, dropping from around $0.31 to approximately $0.09 on Sunday.

Users reported delayed withdrawals, with some USDT requests pending for hours without processing. BitMart warned in its announcement that some withdrawal requests may face additional compliance and security reviews.

The exchange cited 'operating conditions, market environment, and future strategic direction' as reasons for the decision, but gave no further detail on what specifically led to the closure.