BitMart Users Demand Reserve Disclosure and Repayment Plan by August 19th

BitMart users and employees are demanding that the cryptocurrency exchange disclose its reserves by August 19th. The group, which claims to represent numerous affected parties, has issued an open letter to BitMart's founder Sheldon Lee and co-founder Yi Li.

The letter argues that many users remain unable to withdraw their assets from the platform, while some employees have not received their previous month's salary or owed compensation. The authors of the letter are seeking verifiable information about BitMart's wallets, assets, liabilities, and usable reserves available to meet customer withdrawals.

The group is also requesting an independent third-party audit of the exchange's financial position. They argue that users should not be expected to trust the exchange's assertions about its solvency without access to the underlying data.

In addition to transparency regarding BitMart's finances, the letter calls for an investigation into accounts allegedly associated with Yi Li. The authors have raised questions about the source and ownership of funds held in these accounts, which they claim may be connected to customer assets on the platform.