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BitMart will close its crypto exchange after nine years, becoming the second major platform to announce a shutdown within one week. The exchange will end spot and derivatives trading on August 26. It will formally close the platform on January 31, 2027.
The company halted new registrations, deposits, and orders at 01:30 UTC on Sunday. Meanwhile, its BMX token fell 81% over one week to $0.057.
Withdrawals remain available, although BitMart warned that identity, device, sanctions, and source-of-funds reviews could slow processing. The exchange promised a responsible, orderly, and transparent wind-down.
BitMart linked the closure to operating conditions, the market environment, and its future strategic direction. However, the crypto exchange did not identify a single event that forced the decision.
The company also did not report insolvency. Nor did BitMart connect the shutdown to a regulatory order, security incident, or shortage of customer assets.
For now, users have no detailed financial account beyond the exchange’s broad statement.BitMart said users could continue withdrawing funds before the final closure. However, increased demand and added compliance checks could delay some transactions.
Several service changes came before the shutdown announcement. BitMart suspended its automated market-making bot on July 24 and returned users’ principal and earnings to spot accounts. The exchange also ended spot margin trading, with forced liquidation scheduled for July 26. Earlier, it told remaining US-linked users to close positions and withdraw by August 8.
Those instructions formed part of a compliance review. As customers now move funds, BitMart has warned that scammers may exploit uncertainty surrounding the closure. The company said it will never request passwords, two-factor codes, private keys, or recovery phrases. It also will not charge users for faster withdrawals.
BitMart advised customers to use its official website, mobile application, registered emails, and support system. Users should also confirm wallet networks and addresses before transferring assets.
CoinGecko data placed BMX at $0.057 after an 81% weekly decline. The fall reduced the token’s market value to about $19.6 million. BitMart entered the market in 2017 and built its business around a broad selection of smaller tokens. A 2021 funding round valued the company above $300 million.
Days after that round, attackers compromised two hot wallets. BitMart estimated the losses near $150 million, while outside estimates reached $196 million. The exchange later used its own funds to cover customer losses. Its shutdown notice does not connect the wind-down to that breach, which occurred nearly five years earlier.
BitMart’s announcement followed other planned exits. It said it would close its derivatives exchange on September 23 after 11 years and a strategic review. BitMEX stopped accepting new registrations and set August 26 as the deadline for opening positions. Odos also plans to shut its decentralized exchange aggregator on July 30.
Each platform provided different reasons and timelines. In May 2026, BitMart said its operations remained normal while answering concerns about withdrawals and risk controls. At that time, the exchange also said it planned to publish proof of reserves after completing security preparations.
BitMart will end trading on August 26 and close fully in January 2027 after nine years. BMX has lost 81% in one week, while withdrawals remain open under stricter checks. Users should rely on official channels, verify transfer details, and reject requests for credentials or expedited-withdrawal fees.
