BitMart Faces Formal Inquiry Over Delayed Withdrawals Totaling $22 Billion
BitMart is facing a formal inquiry from Scandic Coin (SNC) over extended delays in processing three outstanding withdrawals. The transactions, totaling $22,153,791.201 USDT and 926,634.6 SNC, were created on July 26, 2026, but remain at 0 out of 12 confirmations with no completion date or TXID.
The institutional account holder had been approved by BitMart, which means the withdrawals should not be subject to KYC/KYB or AML checks. However, despite multiple requests for an explanation, BitMart has failed to provide a specific reason for the delays or a binding completion date.
Scandic Coin argues that this lack of response suggests that BitMart's cessation of business operations may not be as orderly and transparent as claimed. The company demands immediate execution of the transactions, provision of TXIDs, and a written explanation for the delays. If not met, Scandic Coin will continue to press for action.