BitMart's Frozen Withdrawals Spark User Frustration as Tragic Consequences Emerge

More than five weeks have passed since BitMart halted trading on August 26 and promised to keep withdrawals open, but customers continue to report frozen crypto withdrawals. The exchange's last public update was on August 21, when it said a restructuring roadmap would be released by September 9.

Initially, the company told users that withdrawal services would remain available, and they should finish identity checks, close positions before trading ended, and submit requests by August 26. However, on-chain tracking revealed that only 58 wallets withdrew around $805,000 in the first 24 hours after the shutdown notice.

Users are now accusing BitMart of blocking withdrawals from what they call a 'dead exchange.' The claim has sparked a wave of responses, with some users warning others not to answer private messages from people posing as support. A user-owned advocacy account, @bitmart_scam, reported that relatives in India had lost access to their funds and one person even committed suicide due to the stress.

The official silence ahead of the September 9 checkpoint has further fueled the controversy. BitMart's last substantial message was on August 21, and users are now demanding transparency and clear answers regarding the withdrawal procedures and the status of pending requests.