BitMart Withdrawals Stall as Wind-Down Proceeds

BitMart's wind-down is starting to impact customer withdrawals, according to blockchain monitoring and user reports. The exchange has said that withdrawals will still be supported during this period but may undergo additional compliance and security checks.

A Lookonchain report found that only 58 wallets withdrew approximately $805,000 over a 24-hour period. During the same time frame, BitMart did not process any withdrawals, suggesting that operational throttling or slower throughput is occurring.

Some users on social media have reported delays or inconsistencies with withdrawal processing, although these claims could not be independently verified.

The exchange's token, BMX, has continued to fall in value since the shutdown announcement, reflecting deteriorating market sentiment. According to CoinGecko data, BMX is trading near $0.057 and down about 81.5% over seven days.