bitmart

about $150 million stolen, BitMart said in December 2021
about $319.5 million lost, says its restructuring plan

same hack
back then the CEO promised to cover it with their own funding
now the plan blames that hack for the gap between assets and liabilities

the menu:
- a pro-rata share now: cash, stablecoins, BTC, ETH, SOL
- a Restitution Token that waits on 2021 recoveries
- a Continuum Token you can trade on DEXs

two of the three exits pay you in a new token

parked $BTC there? your claim is dollars now, at weighted prices from July 26, 2026
no recovery estimates until three to four weeks of talks with the 50 largest users

the day BitMart prints those numbers they go up here. coins stuck there, that's worth a follow

my own Bitget balance still hasn't come out, so I read this slowly

#BitMart #CEX #HackRecovery

BitMart issues a preliminary repayment plan under court supervision, targeting more than 12 million frozen users: balances are first priced in USD, then one of three options is selected—redeem for cash/proportional allocation into liquid assets such as stablecoins, receive Restitution Tokens tied to recovered hacker funds, or receive Continuum Tokens tied to the company’s assets and future profits. The shortfall is attributed to the hacker attack from December 2021; the estimated valuation is about $319.5 million. The company sought feedback from major holders in October and revised the plan in November; the company will submit it to the court again around December or January next year.

Still a draft, not a timeline for payouts.

#BitMart #crypto exchange

BitMart said “updates within three weeks,” not “withdrawals within three weeks.”

I won’t treat hiring a financial advisor as a signal that withdrawals have resumed. For users who still have funds in BitMart, what you should do now is save your balances and withdrawal application records—not arrange funds according to a “three weeks later” payout schedule.

On September 9, BitMart announced that it would hire Alvarez & Marsal (A&M) to assess assets, financial condition, and feasible options. The announcement plans to publish a user feedback portal within five business days. In the following three weeks, it will roll out updates through feedback channels and an action plan. One is an entry point for collecting opinions, and the other is an information update window—neither is a withdrawal completion deadline.

Advisor involvement is a step toward asset verification; however, without seeing the verification results disclosed, it can’t be taken as confirmation that solvency has been established. Cointelegraph’s report also pointed out that this announcement did not provide asset figures, recovery estimates, or a withdrawal timeline. The official statement also said it plans to appoint an independent third party to oversee operations and asset custody—“planned to appoint” is not the same as already taking over.

This doesn’t mean users definitely won’t get their funds back—only that the current evidence is insufficient to judge when, and how much, can be recovered. For affected users, the next more useful steps are to export account transaction records, save the withdrawal numbers, and then follow the subsequent feedback portal after the official announcement. Do not transfer money to any “unlock/accelerate withdrawals” addresses found in private messages, and do not provide your seed phrase.

Next, track the two windows mentioned in the September 9 announcement: whether a formal portal is available within five business days, and whether verified asset information and actionable withdrawal arrangements are provided within three weeks. The latter two are observation requirements, not promises that the announcement will be completed within the stated time. Only if the verification results and actual withdrawal progress corroborate each other can the risk to funds usability be reduced; if there is another delay without substantive disclosure, or if additional transfers are required to release balances, increase your alert level.

#BitMart #资产安全 #交易所风险

BitMart misses roadmap, appoints financial expert

- BitMart does not provide asset figures or withdrawal timelines.
- A feedback portal will open within 5 business days.
- A financial review is currently being conducted by a financial expert.
#BinanceSquare #CryptoNews #BitMart

$btc $eth

#vlikevn #Titanbot

Source: CoinTelegraph

#bitmart update reorganization progress; hire A&M as financial adviser

After half a month, the announcement states that Alvarez & Marsal (A&M) will assist BitMart in assessing its financial situation, matters related to stakeholders, and the orderly process for processing withdrawals

Based on the content of the announcement, however, up to now BitMart has not yet published any specific compensation方案 or withdrawal timeline

Instead, it plans to first open a user feedback channel within 5 business days and gradually release an action plan within 3 weeks

So after waiting for so long, what users get is only a “feedback channel”?
#BitMart将于2027年停止运营

BitMart’s latest developments are here. According to information disclosed by the official, the platform is currently drafting a restructuring plan as an alternative to a full liquidation, with related progress to be released no later than September 9.

Shifting from full liquidation to restructuring is undoubtedly a signal worth watching for BitMart users. Liquidation means assets are distributed proportionally, the process is long, and the final recovery rate is often uncertain. Restructuring, however, suggests the platform is still looking for the possibility of ongoing operations, and users’ assets may be gradually realized through more flexible means.

That said, the details of the plan have not been announced yet. The specific form of the restructuring, the timetable for the settlement of users’ assets, and the platform’s future business plans—all these key pieces of information still need further clarification from the official. September 9 has also become an important window for market observation.

For users holding assets on BitMart, during this period it is recommended to closely monitor official announcements and not trust so-called “insider information” from unofficial channels. Everything should be based on what the platform formally discloses.

#BitMart #cryptocurrency

【Encryption Industry Updates】BitMart exchange is currently drafting a restructuring plan. As an alternative to full liquidation, relevant progress will be released to the public no later than September 9.

Judging from recent industry trends, compliance and liquidity pressures faced by smaller and mid-sized exchanges have continued to become increasingly prominent. If the restructuring can be implemented, it may provide users with greater chances to recover assets compared with direct liquidation; however, investors still need to view the uncertainties involved rationally and closely monitor the details of the subsequent plan and the asset disposition arrangements.

#BitMart #Encryption Industry

BitMart’s recent developments are worth paying close attention to for all cryptocurrency investors. The market had once been concerned that the exchange might face a full liquidation, but the latest reports indicate that BitMart is drafting a restructuring plan as an alternative to full liquidation.

For users, this is undoubtedly an important signal—restructuring may mean a higher likelihood of asset recovery compared with liquidation procedures. The official statement says that related progress updates will be published no later than September 9.

At present, the market is extremely sensitive to exchange safety. Any rumors or signs involving major or mid-sized platforms could affect overall sentiment. Users who hold assets on BitMart are advised to closely monitor official announcements. And a reminder to everyone: diversifying storage and self-custody are always the top principles of risk control.

The progress announcement on September 9 will be a key milestone, and we will continue to follow developments.

#BitMart #加密货币 #Exchange Updates

BitMart recently unveiled a restructuring proposal, positioning it as an alternative option to a comprehensive liquidation, and pledged to release the latest updates no later than September 9.

From a comprehensive liquidation to a restructuring proposal, BitMart’s direction remains at a crossroads. For users, restructuring may mean changes in both the asset settlement ratio and the timeline—an improved solution, or a delaying tactic? With limited information so far, the official disclosure on September 9 still needs to be finalized.

If you hold assets on BitMart, please closely monitor official channels, do not trust unofficial information, and make rational judgments regarding your next steps.

#BitMart #Crypto updates

BitMart suddenly threw out a “restructuring proposal” instead of a full liquidation—like tossing a smoke bomb into the market 💣

Once a leading second-tier exchange, it now stands at a fork in the road: will it head toward revival, or find another way to delay things? The progress announcement on September 9 will become a crucial turning point.

For users, restructuring doesn’t necessarily mean assets are safely and promptly settled. Liquidation comes with clear repayment rules and timelines, but restructuring may extend the waiting period—and the final outcome may still be far from satisfactory.

No matter how it turns out, this is yet another warning bell: **don’t put all your eggs in one basket**, especially the basket of a centralized exchange.

#BitMart #cryptocurrency

BitMart has put forward a restructuring plan, treating it as a backup option other than a “full liquidation,” with progress updates to be provided no later than September 9.

From a trader’s perspective, this news has a few key points worth watching:

First, “proposed” is not the same as “approved.” The restructuring plan must go through multiple gates involving creditors, the court, and regulators. Whether it can actually be implemented—what price and what timeline for cash payouts—depends on subsequent disclosures.

Second, the valuation gap between liquidation and restructuring can be enormous. Entering full liquidation means assets are sold at a discount and the time cost is high; restructuring is slower, but typically offers better asset preservation and recovery rates. For users with balances in their accounts, these two paths directly determine how much they can get back.

Third, the timeline. September 9 is a clearly defined observation window. Any delay or change in wording could be a risk signal and also create an information-trading time gap.

In the short term, this is a platform credit event: sentiment will be hit first, while fundamentals move forward. In the medium to long term, regulation of exchange compliance and asset segregation will only tighten further, and industry reshuffling will continue.

Not betting on a single platform, and not keeping spot holdings long-term on smaller exchanges, is the most straightforward risk control at this stage.

#CryptoNews #BitMart

GM. While normies were busy doomscrolling their 401k, some BitMart creditors went full Rebel Alliance and formed "Echo Base" over a measly $10M rescue offer. Talk about getting a rough deal.

THE ALPHA: It seems BitMart might be feeling the Empire's grip, as creditors are organizing a claimholder committee after their funded bankruptcy proposal was reportedly ignored. This move is a big deal for getting any funds back from a struggling exchange. #CryptoNews #BitMart #CreditorRights

THE PUNCHLINE INSIGHT: So, BitMart's response to a $10 million lifeline? Apparently, it was "We have you now," much like Vader to Luke. Some exchanges really do prefer the dark side of the force.

What's your hot take on creditor committees in crypto? Are they the Jedi we need, or just another layer of bureaucracy?

​#bitmarttowinddownbyjan2027
🚨 End of an Era: BitMart Sets January 2027 Sunset Date

​Another exchange pioneer is closing its doors.

​In the wake of BitMEX’s recent announcements, BitMart has officially confirmed a complete shutdown of operations by January 2027, bringing an end to its 9-year tenure in the crypto space (2018–2027). The long-term financial damage from devastating past security breaches ultimately caught up with the platform.

​If you currently have assets or active trades on BitMart, here is your immediate action plan:

​⏱️ Withdraw Immediately: Do not wait for the deadline. Close active positions and pull out your funds as soon as possible, ideally before August 26, 2026.

​🛑 Watch Out for Phishing: Scammers will aggressively target users during this transition phase. Ignore suspicious DMs, fake support accounts, #and unverified links.

​🔐 Migrate to Tier-1 Exchanges: Move your capital to proven, highly secure platforms with verified proof-of-reserves to keep your assets safe.

​⚠️ Disclaimer: This post is for informational purposes only and does not constitute financial advice. Protect your capital and trade safely!

​#bitmart #HackerAlert #Binance
$DIA
$KAITO
$ESPORTS

🚨 BITMART ANNOUNCES FINAL SHUTDOWN 🚨

The BitMart exchange has started liquidating its operations. If you use the platform, these are the key dates:

• August 26 (01:00 UTC): Total trading closure (Spot and Futures). Open positions will be automatically liquidated.

• January 31, 2027 (15:59 UTC): Final closure of the site and end of the withdrawal period.

💡 Recommended action: Close your positions and request a withdrawal of your funds to your wallet as soon as possible to avoid system congestion.

Beware of scams that ask for extra payments!

💬 Did you have funds on BitMart? Comment below. 👇
#BitMart #CryptoNews #BinanceSquare #Crypto

BitMart publicly calls on its founder Sheldon along with Li Yi, demanding that by August 19 they provide formal responses to five core issues.

The most closely watched, of course, is the specific whereabouts of users’ funds and verifiable proof of assets. When will the decision on withdrawal restrictions be made, who was informed, what are the related accounts and how did the funds flow, when will employees’ salaries and compensation be settled, and a truly executable user repayment plan—remaining assets, total liabilities, repayment ratios, timeline, whether they will accept third-party audits. Every item directly targets the platform’s current trust gap.

Based on the current situation, large numbers of users are still unable to withdraw, and employees have not yet received their final salaries and compensation. The platform’s financial position is clearly not optimistic. BitMart has set a clear bottom line: if a complete and transparent explanation is not provided by the deadline, they will submit the relevant materials to law enforcement agencies, regulators, attorneys, and the media to push for further investigation.

This means August 19 will be a critical milestone. If the founder’s response is vague, the platform will face real pressure from the regulatory and judicial authorities; if they choose a direct response and present genuine asset proof and an implementable repayment plan, it may be the only way to stop further erosion of trust.

For users, the next few days are worth close attention. Once an exchange enters this stage of “public questioning,” it usually means internal communication has failed. After that, it will either be substantive rectification or a larger-scale bank run with regulatory intervention. In any case, the more transparent the information disclosure is, the more ordinary users can make timely judgments.

#BitMart#exchange#user funds

These are the issues
everyone is complaining about products winding down and saying it’s over

but ask yourself, when last did you use this product before they wound down operations ? ( that’s if you even used them at all )

let’s take the most popular that at least most people should’ve heard about
BitMart exchange

since you started your crypto journey, how many times have you used them ?

how many times did you use Dango ?

yeah that’s issue, you didn’t use it, i didn’t use it only a very few people used them at least compared to Bybit and the likes

so how do we expect them to make money or keep going ?

well except it’s a front for money laundering, it’s just practical that no one was using them, so they weren’t making money and the only logical solution is to wind down
although there could also be other reasons obviously

you don’t see Binance or Bybit or MEXC winding down
why ?
because that’s what everyone uses
if 100 people are selected at random, there’s a probability that 98% use one of those i mentioned
including me so that’s just the thing!
#Binance
#bitmart

🔥 BREAKING NEWS 🔥

BitMart is set to conclude its trading services in a few hours, preceding a complete operational shutdown scheduled for the end of January 2027. Users are advised to complete any necessary account adjustments. #BitMart #Crypto

$ETH $TON $PEPE

Source: Compiled

🚨 BITMART CEO REMOVED: PLATFORM SUSPENSION DECISION MADE WITHOUT APPROVAL ⚠️

🦈 Institutional governance cracks are surfacing at BitMart. Global CEO Nenter Chow was informed of his termination on July 24th, then watched the platform suspension announcement go live on July 26th without his input or consent. 🔍 This suggests a breakdown in internal decision-making at a critical moment.

📌 Key takeaway: Exchange leadership divorcing from operational moves creates uncertainty for users. The gap between management and execution often precedes liquidity or asset access issues. 💡 Smart money watches how custodians handle internal conflicts.

💬 Do you trust exchange transparency when the CEO learns about major decisions from public posts? 👇

⚠️ Not financial advice. Always manage your risk. 🛡️

🏷️ #BitMart #CEX #CryptoExchange #Governance #RiskManagement

🛡️ 🔍

What another exchange shutdown 😅😴in same week first #Bitmex then #Bitmart today
what went wrong few days ago it was Ascendix
BitMart announced that it would cease operations after almost eight years in business.
This marks the third crypto exchange to close this month, as the $BMX token plummeted more than 55% Industry observers say the rash of exchange closures is part of a broader shakeout in which weaker platforms are finding it difficult to survive in a more competitive market.
it also resulted in the shutdown of over 30 crypto projects in 2026, including exchanges, Layer 1s, Layer 2s and DeFi protocols
The mid-tier exchange model has a 'fatal flaw' and needs a constant flow of new users, and when that dries up, the business fails.

BitMart Founder Publicly Faces Accountability

On August 17, BitMart’s official account posted on X, demanding that founders Sheldon and Li Yi publicly respond to five key questions by August 19, including the whereabouts of user funds and verifiable proof of assets, the decision-making process behind withdrawal restrictions, an investigation into the flow of funds in related accounts, employees’ final salaries and compensation, and a concrete repayment plan containing remaining assets, total liabilities, repayment ratio, timeline, and a third-party audit.

At present, the platform still has many users unable to withdraw and employees who have not received their final salaries and compensation. BitMart has made it clear that if a complete and transparent explanation is not provided by the deadline, it will submit relevant materials to law enforcement agencies, regulatory bodies, lawyers, and the media to push for further investigation.

This public “final ultimatum” between the exchange and its founders is extremely rare. By applying pressure through public channels, BitMart indicates that internal communication has nearly broken down. The founders must either come up with a credible settlement and repayment plan or face multi-pronged pressure from regulators and the judiciary.

For users, the three most important concerns remain: Is my money still there? When will I be able to get it back? Who can oversee this? These five questions are exactly what is being asked to address those three points.

With only two days left until August 19, Sheldon and Li Yi’s response will determine whether BitMart can pursue self-rescue or ends up collapsing. #BitMart#ExchangeCrisis#UserRights