BitMart Offers Users Three Paths to Recover Assets in Restructuring Plan

BitMart has unveiled three preliminary paths for users to recover their account assets as part of its restructuring plan. The plan comes after a 2021 cyberattack resulted in a $319.5 million shortfall, which BitMart attributes to a weak crypto market and exploited incentives in its futures business.

The exchange will convert each user's account balance into a dollar-denominated amount using weighted average trading prices for relevant tokens from July 26, 2026, through a later designated period. A court-appointed representative will value those balances.

Users have three options: an immediate distribution in cash, stablecoins, and major assets including Bitcoin (BTC), Ether (ETH), and Solana (SOL); a Restitution Token backed by funds recovered from the 2021 attack; or a Continuum Token tradable on decentralized exchanges, supported by BitMart's investment holdings and future project profits.

BitMart has reviewed its assets and liabilities since August while Alvarez & Marsal and White & Case conduct preliminary due diligence. Over the next three to four weeks, the exchange plans to consult its 50 largest users by assets and prepare recovery estimates for all users. The proposal still requires approval before implementation.