BitMart to wind down exchange, end trading by Aug. 26
BitMart will wind down exchange operations after its BMX token plunged nearly 70% and users reported withdrawal delays. Trading ends Aug. 26, with full platform operations set to cease Jan. 31, 2027. New registrations and deposits have already stopped under the orderly shutdown plan.
Key Takeaways
- BitMart ends all trading on Aug. 26 and ceases operations on Jan. 31, 2027.
- New user sign-ups and deposits are closed; futures are reduce-only and spot rejects new orders.
- BMX fell nearly 70% as users reported delayed withdrawals, including pending USDT requests.
- Arkham-tracked BitMart wallets held about $71 million Sunday, down from roughly $102 million on July 6.
- BitMart joins recent shutdown plans from peers including BitMEX and Dango.
Why does the BitMart wind down exchange matter?
Crypto exchange BitMart said it will begin an orderly wind-down after weighing operating conditions, the market environment, and its future strategic direction. In a Sunday notice, the company called the move a difficult decision to shut its trading platform.
BitMart joins a growing list of venues outlining exits. For traders and depositors, the BitMart wind down exchange timeline sets hard deadlines for closing positions and moving funds. More alerts like this appear in our Fintech & Crypto Alerts hub.
When does BitMart stop trading and shut down?
Under the plan reported by Cointelegraph, BitMart will end all trading services on Aug. 26. Platform operations are set to stop entirely on Jan. 31, 2027.
BitMart has already stopped accepting new user registrations and deposits. Futures trading has entered reduce-only mode, and spot markets no longer accept new orders.
BitMart joins BitMEX and Dango, which both said this week they would shut down their trading platforms.
What happened to BMX and user withdrawals?
BitMart’s native token, BMX, lost nearly 70% of its value as withdrawal complaints spread. BMX traded at about $0.09464 at the time of Cointelegraph’s report, down from about $0.31 late Friday, after falling as low as $0.1058 early Saturday.
Several users on X said withdrawals were taking longer than usual, with some claiming USDT requests stayed pending for hours. In its wind-down notice, BitMart said some withdrawal requests could face extra compliance and security reviews that may extend processing times.
Arkham data showed wallets attributed to BitMart held about $71 million in crypto on Sunday, down from roughly $102 million on July 6. About $41.5 million was in WeFi’s WFI tokens, while tracked wallets held about $91,000 in USDT.
BitMart did not respond to Cointelegraph’s request for comment before publication. Some social posts also mixed up BitMart’s BMX with BitMEX and its BMEX token; it was not clear whether that confusion affected BMX trading.
What are the key dates for BitMart users?
Aug. 26 is the last day of trading services, and Jan. 31, 2027 is when platform operations are set to end. Spot markets are closed to new orders, and futures are reduce-only ahead of those cutoffs.
BitMart also warned that some withdrawals may take longer because of added compliance and security reviews. Related shutdown and token coverage is collected in Fintech & Crypto Alerts.