BitMart Faces Scandic Coin's Demands for Withdrawal Explanation

Scandic Coin (SNC), a crypto asset, has issued a statement regarding its withdrawal freeze on BitMart. The company claims that a withdrawal request submitted on July 26, 2026, at 09:10:03 German time remains marked as 'Processing' after more than 35 hours.

The requested assets, totaling 22,000 USDT and nearly 930,000 SNC, have not been received by the designated wallets. Scandic Coin asserts that these funds belong exclusively to its operating company, are not BitMart's property, and are not locked in active trading positions.

In light of BitMart's recent announcement to wind down its trading-platform operations, Scandic Coin demands an explanation for the prolonged delay in releasing the assets. The company questions whether this is a technical or compliance-related issue, or if BitMart lacks sufficient liquidity or financial resources to honor withdrawals promptly and in full.

Scandic Coin is not asserting insolvency but requires BitMart to dispel concerns immediately with verifiable facts. The company demands an immediate release of the assets or a detailed written explanation identifying the precise reason for the delay and a binding completion time.