BitMart Proposes Court-Supervised Restructuring with Three User Recovery Options
BitMart is proposing three recovery paths in its court-supervised restructuring plan to address a significant balance-sheet shortfall. The exchange's management team estimates that the shortfall, valued at approximately $319.5 million using asset prices from December 4, 2021, cannot be covered by an investor-proposed $10 million liquidity package.
The proposed recovery options include converting unpaid account balances into U.S. dollar values based on weighted average trading prices from July 26, 2026, through a designated record time. Users can choose between receiving their share in fiat currency, stablecoins, or cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Solana (SOL).
Two other options would defer recovery. A recovery token could give users a share in efforts to reclaim assets stolen during the December 2021 hack. A continuation token could be traded on decentralized exchanges and link holders to investment interests, sales of illiquid assets, and future project profit distributions.