Holder
Jul 26, 2026
14 0

Crypto exchange BitMart announces shutdown

4 min

BitMart has announced a phased shutdown of its trading platform. The company said the decision followed a thorough assessment of its operations, market conditions, and long-term business strategy. Management called it a “difficult but necessary decision” and thanked users for their support over the years.

Why the exchange is shutting down

In its official announcement, BitMart did not provide a detailed explanation for the closure. The company only noted that the decision was made after analyzing:

  • the current state of the business;
  • market conditions;
  • the company’s long-term strategy.

The announcement does not contain any information about bankruptcy, liquidity shortages, or a hack.

Phase 1. Immediate restrictions

Starting from July 26, 2026 (01:30 UTC), the following restrictions apply.

User registration

  • new account registration has been halted.

Account funding

  • crypto deposits are disabled;
  • fiat funding is disabled.

Trading

On the futures market:

  • accounts are switched to Reduce Only mode;
  • opening new positions is prohibited;
  • only reducing or closing existing positions is allowed.

On the spot market:

  • no new orders will be accepted.

The following services will also be phased out:

  • Copy Trading;
  • Grid Trading;
  • API Trading;
  • other automated trading services.

Users must cancel all open orders themselves. If they do not, the system will cancel them automatically.

Phase 2. Full trading halt

August 26, 2026 at 01:00 UTC

BitMart will completely stop:

  • spot trading;
  • futures trading;
  • any other trading services.

If any futures positions remain open by that time, the exchange will close them on its own under the applicable settlement rules using:

  • Mark Price;
  • Index Price;
  • or other settlement rules in effect at the time of liquidation.

The company promises to publish detailed settlement terms separately.

Phase 3. Closure of investment products

The following will be discontinued in stages:

  • BitMart Earn;
  • Staking;
  • Lending;
  • Launchpad;
  • other investment products.

Separate instructions will be published for each service regarding:

  • redemption;
  • funds withdrawal;
  • settlements;
  • next steps for users.

Phase 4. Complete shutdown of the platform

BitMart plans to fully shut down the trading platform

on January 31, 2027 at 15:59 UTC.

After this date, trading activity will be permanently discontinued. For some time, users will still be able to:

  • log in to their accounts;
  • view their transaction history;
  • access archived data;
  • if necessary, initiate withdrawals of remaining assets through a separate procedure, details of which will be announced later.

What users need to do

The company recommends not delaying the following actions.

Trading

  • cancel all open orders;
  • close all futures positions.

Investment products

  • withdraw funds from Earn;
  • end participation in Staking;
  • close positions in Lending;
  • complete participation in Launchpad.

Assets

  • withdraw crypto from the exchange;
  • save your transaction history;
  • save your account statements.

The company emphasizes that users must complete all actions on their own before the stated deadlines.

What will happen with withdrawals

Crypto withdrawals remain available.

However, BitMart warns that additional checks may be applied during processing, including:

  • KYC verification;
  • proof of source of funds;
  • proof of wallet address ownership;
  • AML and sanctions compliance checks;
  • Travel Rule compliance checks;
  • additional security measures.

The exchange also cautions that due to a high volume of requests, withdrawal processing times may increase significantly.

What the company is telling users

In closing, BitMart apologizes for the decision and thanks clients for their trust over the years. The company says it will strive to wind down the platform as smoothly as possible and promises to publish additional announcements as each shutdown phase proceeds.

Market reaction

Following the announcement, the market reacted sharply negatively. The exchange’s native token, BMX, lost more than 45–60% in value in 24 hours (depending on the venue and time of measurement), reflecting investor concern about the future of the BitMart ecosystem.