BitMart Suspends Trading Amid Strategic Review
BitMart has announced an orderly wind-down of its trading platform operations, effective immediately. The exchange suspended new registrations, deposits, and new trading orders on July 26 at 1:30 a.m. UTC. Spot and futures trading will end entirely by August 26, 2026.
The full platform operations will officially close on January 31, 2027. This move follows the shutdown announcement by BitMEX made just days earlier. BitMart launched in 2018 and once ranked among the top 10 exchanges by trading volume.
In 2021, hackers stole roughly $200 million from BitMart in one of the industry's larger breaches. The exchange recovered and continued operating for years afterward.
BitMart's native token, BMX, dropped 63% to trade around $0.17 following the announcement. Traders reacted quickly, pulling funds and reassessing exposure to the exchange.