The official Chinese-language BitMart account on X publicly demanded that founder Sheldon Xia explain where user funds are and present a debt repayment plan by Wednesday.
The account stated in a post on Monday that some users were still unable to withdraw funds, and some employees had not received their final salary or compensation. It also simultaneously called on Xia to disclose information about BitMart's wallets, assets, liabilities, and available reserves, as per a machine translation of the post.
The post said: if Xia does not provide verifiable information about assets and a debt repayment plan by the set deadline, the account will continue to submit evidence to regulators, law enforcement, lawyers, and the media.
It is unclear who published Monday's message or whether the account remains under the company's control. Cointelegraph reached out to BitMart for comment but had not received a response at the time of publication.
On July 26, BitMart announced it would close the exchange following a drop in the BMX token price and user reports of withdrawal delays. The company said trading on the platform would end on August 26, and operations would cease completely on January 31.
As part of the shutdown, the exchange stopped accepting new deposits and registrations and warned that some fund withdrawals might undergo additional compliance and security checks.
Related: BitMart Withdrawals Appear Slowed Following Exchange Shutdown Announcement
Claims on Official Account Called 'Fabricated'
Xia responded on Monday in an X post, calling the claims in the message 'fabricated rumors' and stating that evidence had been preserved, as per a machine translation.
"We have collected all evidence of the X posts' content — all of this is fabricated rumors. During US business hours, we will file a police report and send a lawyer's letter to X demanding a technical and forensic data examination," Xia stated.
Xia also claimed that when handling assets, employees do not receive priority over customers, adding: "everyone is a customer," and there are no privileges.
He previously denied allegations of BitMart misappropriating user assets. On August 8, Xia urged users not to believe unverified statements or screenshots allegedly provided by current or former employees.
Wallets linked to BitMart by Arkham held approximately $36.5 million in crypto assets as of Monday — down from about $71 million on July 26 and $102 million on July 6.
Tracked wallets may not reflect all assets under BitMart's control. It is unclear how much of the decrease is due to customer withdrawals, asset consolidation, or transfers to other wallets.
The situation is developing.
Holder's Digest: Data Leak for 54,000 Wallet Users, CLARITY Approval Odds Just 10%
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