BitMart Faces Aug. 19 Deadline as Users Demand Reserve Disclosure and Repayment Plan

TheNewsCryptoPublicado a 2026-08-17Actualizado a 2026-08-17

Resumen

BitMart users and employees have issued an open letter giving the exchange a deadline of August 19 to disclose details of customer asset reserves and provide a repayment plan. This follows BitMart's July 26 announcement of its impending shutdown after nine years. While the exchange has stopped new registrations, deposits, and trading (with trading halting August 26), it maintains withdrawals with enhanced verification steps, which it previously attributed to anti-scam risk controls. The letter demands an independent audit and seeks answers regarding reported withdrawal limitations, including when BitMart became aware of issues and who authorized restrictions. It also raises concerns that deposits were encouraged despite potential problems. Additionally, employees claim unpaid salaries and call for investigations into accounts linked to customer funds. The exchange, which suffered a $196 million hack in 2021, faces mounting pressure to provide a clear timeline and plan for addressing these financial obligations by the August 19 deadline.

The BitMart users and employees have set Aug. 19 as the deadline for the exchange to respond to the problem of asset withdrawals and provide details about customer assets. An independent audit is also among the demands made of BitMart. These demands come following the shutdown notice issued by the exchange on Jul. 26 after nine years of operations. The exchange ceased new registrations, deposits, and trading but maintained the withdrawal process. Trading will be stopped on Aug. 26, while full operation will stop on Jan. 31, 2027.

Questions About Withdrawals Create More Pressure

Moreover, the open letter questions BitMart about reported withdrawal limitations and seeks information about when it became aware of such issues. Customers wonder who authorized the withdrawal restrictions and whether BitMart had continued encouraging deposits despite being aware of the problems. In connection with the withdrawal issues, BitMart earlier said that withdrawal issues were due to risk controls designed to deal with a scam that was exploiting activity subsidies provided by the platform. Once it announced its closing down, it said that withdrawals would still be allowed but may require extra verification steps. These steps may include identity verification, device verification, IP address check, withdrawal destination verification, funding source verification, and sanctions check.

Employees Demand Remuneration in the Wake of Increased Investigations

The statement further outlines claims of non-payment of salary and remuneration concerning some BitMart employees. The group is calling for investigations into the accounts and individuals that could be associated with customer funds. It also called on Yi Li to explain the ownership and sources of funding found in the unverified documents. The statement noted that allegations cannot prove anything without any proof. In 2021, BitMart experienced a $196 million crypto hack and had committed to compensation thereafter. The users now demand a timeline, estimates, priorities, and other relevant information by August 19.

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Preguntas relacionadas

QWhat is the deadline set by BitMart users and employees for the exchange to respond to their demands?

AThe deadline set by BitMart users and employees for the exchange to respond is August 19.

QWhat are the three main types of operations that BitMart ceased after its July 26 shutdown notice?

AAfter the July 26 shutdown notice, BitMart ceased new registrations, deposits, and trading.

QAccording to the open letter, what specific information do customers seek regarding withdrawal limitations?

AThe open letter seeks information about when BitMart became aware of the withdrawal issues and who authorized the withdrawal restrictions.

QWhat reasons did BitMart give for the withdrawal issues it experienced?

ABitMart stated that the withdrawal issues were due to risk controls implemented to deal with a scam that was exploiting activity subsidies provided by the platform.

QBesides customer asset concerns, what other major financial issue is highlighted regarding BitMart's employees?

AThe statement outlines claims of non-payment of salary and remuneration concerning some BitMart employees.

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