Written by Ezra Reguerrastaff writerReviewed by Bryan O’Sheastaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Bryan O’Sheastaff editor

BitMart withdrawals appear to slow following wind-down announcement

Latest NewsPublishedJul 27, 2026

Withdrawal Delays Hit BitMart After Wind-Down Announcement

Users are reporting withdrawal delays and freeze notices from crypto exchange BitMart, following its announcement to wind down operations. The exchange’s wallets have fallen to around $69 million, with its BMX token extending an 81.5% weekly decline. This has sparked concerns about the exchange’s ability to return customer funds smoothly.

According to blockchain analytics, only 58 wallets withdrew about $805,000 in over 24 hours, with no withdrawals processed in the last eight-hour period tracked. Users are also reporting individual difficulties, including unprocessed transactions and “on-chain withdrawal freeze” notices. BitMart has warned that withdrawals may face additional compliance and security checks, which could be contributing to the delays.

Impact on Users and the Crypto Community

The situation has raised concerns about the potential for a broader rush for the exits, as users worry about accessing their funds. BitMart’s ability to manage an “orderly” wind-down will be crucial in maintaining user trust. The exchange has announced that it will stop accepting new registrations and deposits, with trading services scheduled to end on August 26, and the platform ceasing operations entirely on January 31, 2027.

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Market Implications and Opportunities

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BitMart token extends decline as exchange prepares to close

On Sunday, BitMart announced that it would stop accepting new registrations and deposits while restricting new spot orders and futures positions. Trading services are scheduled to end on Aug. 26, with the platform expected to cease operations entirely on Jan. 31, 2027.

Arkham-identified wallets attributed to BitMart held about $69 million in crypto assets on Monday, down from roughly $102 million on July 6. 

Related: Storj files for bankruptcy, explores equity path for tokenholders

BitMart’s BMX token traded near $0.057 on Monday and had fallen about 81.5% over seven days, according to CoinGecko. The token was trading around $0.31 late Friday before the exchange’s shutdown became public.

BMX token’s 24-hour chart. Source: CoinGecko

The closure also prompted discussion about whether larger exchanges could acquire smaller competitors. 

Binance co-founder Changpeng Zhao said acquiring a centralized exchange was more complicated than buying other businesses because buyers could inherit security vulnerabilities, including backdoors left by previous teams. He added that acquisitions remain possible but require greater scrutiny. 

Magazine: Why Australia’s $17B crypto opportunity depends on regulation

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• Cryptocurrency Exchange
• Tokens
• Business
• Blockchain

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