BitMart Announces Sudden Shutdown, Trading to End on August 26

Crypto exchange BitMart is shutting down after eight years of operation. The platform announced it would cease trading on August 26, 2026, and fully shut down on January 31, 2027.

Users will still be able to access their accounts to view records and submit withdrawal requests after trading stops. However, BitMart warned that these withdrawals may face additional checks due to concerns about user identity, login devices, withdrawal addresses, trading history, and source of funds.

Only 58 wallets withdrew around $805,000 in the first 24 hours following the wind-down announcement, according to blockchain analytics account Lookonchain. This is a significant drop from the platform's peak holdings of roughly $102 million on July 6.

The BMX token, BitMart's native token, plummeted by 81.5% in seven days, trading at around $0.057 as of Monday. Global CEO Nathan Chow stated that he was not consulted on the decision and was informed of his termination on July 24, with his offboarding to begin immediately.