BitMart Begins Shutdown Process as Crypto Exchange Sets Final Trading Deadline
Crypto exchange BitMart announced on July 26, 2026, that it has begun an orderly wind-down of its trading platform following an evaluation of its business conditions, market environment, and future strategy. The decision affects users worldwide and initiates a phased shutdown of services ahead of the platform’s planned closure.
BitMart shared the shutdown timeline through its official X account, outlining key dates. 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 August 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 BitMart Global CEO Nenter Chow addressed the shutdown announcement on X, explaining that his departure from the company began before the platform disclosed its wind-down plans. Chow stated that he was informed on July 24, 2026, that his employment as Global CEO was being terminated and that his offboarding process would begin immediately, although he had not received a confirmed final date. “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. BitMEX announced on July 23, 2026, that it would close its crypto exchange on September 23, 2026, following a strategic review. The exchange said it would immediately stop new account registrations while allowing existing users time to close positions and withdraw funds before the deadline. Such shutdowns highlight the need for users to monitor deadlines, secure assets, and remain cautious of phishing attempts during transition periods.
Regulatory developments have also reshaped how crypto platforms operate in major markets, with Binance’s suspension of services in some European markets showing how compliance requirements can influence exchange availability.
BitMart said it expects to officially terminate platform operations at 15:59 UTC on January 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.