BitMart is winding down its global trading platform after announcing a phased shutdown that will halt deposits, trading services, and eventually end exchange operations.
Key Takeaways
BitMart stops new registrations, deposits, and new trading activity starting July 26, 2026.The exchange plans to end all trading services on Aug. 26, 2026, before fully ceasing operations.Former BitMart Global CEO Nenter Chow said he was not involved in the shutdown decision and learned of the announcement publicly.The exchange began restricting new registrations and suspending cryptocurrency and fiat deposits at 01:30 UTC on July 26, advising customers not to send additional assets, as late transfers may not be credited automatically.
At the same time, BitMart limited trading activity by placing futures accounts into reduce-only mode and blocking the opening of new positions. Spot markets stopped accepting new orders, while copy trading, grid trading, API trading, and other automated services were also gradually phased out.
The platform is scheduled to discontinue spot, futures, and other trading services on Aug. 26, 2026, at 01:00 UTC. Any remaining futures positions at that time may be settled based on the platform’s applicable mark price, index price, or other established settlement procedures during the closure process.
Former CEO Says He Was Excluded From Shutdown Decision“Since 24 July I have had no role in the management or decision-making of the company and have not been consulted on any operational matters,” Chow wrote, adding:
“I was not involved in the decision announced today, not consulted on it, and not informed of it. I learned of it when it became public.”
BitMart said withdrawals will remain available throughout the wind-down period, although some requests may require identity verification, security checks, sanctions screening, source-of-funds reviews, or other compliance procedures before completion.
The exchange also warned users about impersonation scams during the transition, emphasizing that BitMart employees will not request passwords, private keys, recovery phrases, authentication codes, or payments for faster withdrawal processing.
BitMart’s planned closure follows other crypto platform exits that have required users to move assets and navigate withdrawal deadlines. Exchange shutdowns can create operational challenges for customers, particularly when large numbers of users attempt withdrawals simultaneously or face additional compliance checks.
BitMart said it expects to officially terminate platform operations at 15:59 UTC on Jan. 31, 2027. After that date, users will still have access for a specified period to review account records and submit withdrawal requests under procedures announced by the company.
